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Alert - 09:25 (CET) - Dólar still flying against the Euro
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As the stocks are going south, the flight to safety advances, with the single currency under the June 2006 lows against the Dollar. The worries about a worldwide recession keep rising and the investors' panic is translating into a bigger Dollar buying.
The EurUsd is trading at 1.2430, ranging from 1.2397 to 1.2686. The current price is under yesterday's close at 1.2623. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the supports at 1.2500 (key) was broken, the traders are contemplating the next at 1.2324 (January 2006 high) and 1.2000 (key). The traders are still watching, just in case, the resistances at 1.2733 (October 23rd high), 1.3354 (October 21st high) and 1.3769 (October 14th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 29 points, oversold. The average volatility per hour is 310 pips. Going with the daily graphics, we see that the current price is under the 38.20% (1.3073) and over the 50.00% (1.2150) Fibonacci retracement lines.
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