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Euro “EC” (Mar)
Coverage for Jan. 23Buyers may have overstayed their welcome. Monday's opening gap down didn't extend down, and a bounce filled the open's gap, but that's all buyers could muster. A positive close would have been bullish, so would a spike up that is maintained through Tuesday's open. Anything less would be more likely at this stage simply to fall of its own weight.Resistance: 1.3020 and 1.3080Support: 1.2920 and 1.2855
British Pound “BP” (Mar)
Coverage for Jan. 23Friday's retest of January 2's highs held as resistance on a closing basis. Monday's opening test also held, and then as support after surging to new highs before noon. This doesn't qualify as a buy signal, and the only pattern capable of extending higher would need to gradually trend higher.Resistance: 1.9780 and 1.9805Support: 1.9715 and 1.9650
Swiss Franc “SF” (Mar)
Coverage for Jan. 23Buyers may have overstayed their welcome. Monday's opening gap down didn't extend down, and a bounce filled the open's gap, but that's all buyers could muster. A positive close would have been bullish, so would a spike up that is maintained through Tuesday's open. Anything less would be more likely at this stage simply to fall of its own weight.Resistance: .8095 and .8140Support: .8040 and .7980
Japanese Yen “JY” (Mar)
Coverage for Jan. 23The most bullish characteristic of Monday's price action is that the gap down was shallower than most other recent gaps down. Similar to recent gaps, the open's drop immediately bottomed for the day, while MACD & RSI improved. None of which has stopped the decline as of yet, and probably won't prevent a capitulation low.Resistance: .8310 and .8390Support: .8260 and .8180
Australian Dollar “AD” (Mar)
Coverage for Jan. 23Friday morning's higher high had ranged sideways all afternoon, and the ranging continued through Monday morning. A pullback into the afternoon didn't offer much more information. But any further delay in extending the rally would make the next higher high more likely to reverse down into a more substantial decline.Resistance: .7900 and .7940Support: .7845 and .7800
Canadian Dollar “CD” (Mar)
Coverage for Jan. 23If buyers had retaken control, this should have been obvious with almost no delay after Monday's open. Instead the open gapped down to last week's lows. With the window now obviously shut on buyers, a brief bounce resolved in a spike down to new lows. A second consecutive new low would confirm that a new downleg had begun.Resistance: .8495 and .8550Support: .8450 and .8405
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