The Dollar closed higher due to short covering on Wednesday while extending this month’s trading range. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes above 81.97 or below 79.62 are needed to clear up near-term direction in the market. First resistance is the reaction high crossing at 81.97. Second resistance is the reaction high crossing at 83.69. First support is today’s low crossing at 79.90. Second support is the reaction low crossing at 79.62.
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