CURRENCY MARKET RECAP

December US Dollar closed unchanged at 76.890. This was 0.115 up from the low and 0.455 off the high.

December Euro closed up 0.32 at 146.24. This was 1.1 up from the low and 0.28 off the high.

December Japanese Yen finished down 0.42 at 110.06, 0.85 off the high and 0.27 up from the low.

December Swiss finished up 0.25 at 96.76, 0.15 off the high and 0.76 up from the low.

December Canadian Dollar finished down 0.52 at 92.36, 0.55 off the high and 0.83 up from the low.

December British Pound closed down 1.17 at 165.69. This was 0.5 up from the low and 1.11 off the high.

Technical Outlook
JAPANESE YEN (DEC) 09/15/2009: Rising stochastics at overbought levels warrant some caution for bulls. The market's close above the 9-day moving average suggests the short-term trend remains positive. It is a slightly negative indicator that the close was under the swing pivot. The next upside target is 111.33. The 9-day RSI over 70 indicates the market is approaching overbought levels. The next area of resistance is around 110.63 and 111.33, while 1st support hits today at 109.51 and below there at 109.09.

EURO (DEC) 09/15/2009: Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The close above the 9-day moving average is a positive short-term indicator for trend. The upside closing price reversal on the daily chart is somewhat bullish. The market has a slightly positive tilt with the close over the swing pivot. The next upside target is 147.36. The market is approaching overbought levels with an RSI over 70. The next area of resistance is around 146.82 and 147.36, while 1st support hits today at 145.44 and below there at 144.60.