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Currencies
Euro “EC” (Dec)
Coverage for Nov. 21Monday's opening gap up was immediately rejected by a drop into negative territory through the morning, where the balance of the session ranged narrowly. The rejection didn't gain traction, which is somewhat bullish, but no new signal was triggered.Resistance: 1.2885 and 1.2910Support: 1.2780 and 1.2745
British Pound “BP” (Dec)
Coverage for Nov. 21Monday's opening gap up immediately peaked, and the balance of the session ranged narrowly around last week's high. The failure to close above prior highs is somewhat bearish, especially since the open's gap was optimistically never filled. But no new signal was triggered.Resistance: 1.9025 and 1.9115Support: 1.8850 and 1.8805
Swiss Franc “SF” (Jan)
Coverage for Nov. 21Monday's opening gap up was immediately rejected by a drop back to Friday's close through the balance of the session. The rejection didn't have time to gain traction, and Monday's open may need to be retested, which is somewhat bullish. But no new signal was triggered.Resistance: .8105 and .8135Support: .8030 and .7995
Japanese Yen “JY” (Dec)
Coverage for Nov. 21The pattern was more vulnerable to resuming its decline, and Monday's open gapped down to prior lows. Although the open's drop was never recovered, it never gained traction either, which is somewhat bullish. An immediate break lower would be suspicious and would also be vulnerable to recovering intraday.Resistance: .8545 and .8585Support: .8475 and .8430
Australian Dollar “AD” (Dec)
Coverage for Nov. 21Monday's choppy session probed negative and positive territory, eventually holding a test of last week's high. Unless the decline were to resume by Tuesday morning, a retest of the high would be likely.Resistance: .7705 and .7730Support: .7650 and .7590
Canadian Dollar “CD” (Dec)
Coverage for Nov. 21The market eked its way lower after rejecting the open's gap up. New lows by mid-morning had plenty of time to extend lower but did not. The balance of the session did range in negative territory, but a recovery above Monday's opening high is needed to begin signaling that momentum may be reversing up.Resistance: .8760 and .8805Support: .8710 and .8690
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