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Alert - 14:50 (CET) - UsdCad
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The UsdCad is trading at 1.2673, ranging between 1.2525 and 1.2743. On the other hand, the price is over yesterday's close at 1.2539. Checking the hourly graphics, we see that the 20- and 50-day EMA are over the 200-day EMA.
As the resistances at 1.1861 (2007 high) and 1.2121 (October 10th high) were broken, the traders are contemplating the next levels at 1.2734 (2005 high). The supports are watched, just in case, at 1.1306 (this week's low), 1.0952 (October 7th low) and 1.0727 (October 3rd low).
This session, the Dollar is continuing its advance against the Loonie. Apart from the global Dollar demand, the Loonie has been losing ground as the crude barrell price is dropping under 70 dollars and also due to the BoC rate cut.
Meanwhile, the 60-minute RSI is at 63 points, after being very overbought. The volatility per hour could reach 200 pips. Checking the daily graphics, the current price is over the 50.00% (1.2589) and under the 61.80% (1.3422) Fibonacci retracements.
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