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Alert - 15:35 (CET) - UsdCad
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The UsdCad is trading at 1.1767, ranging between 1.1657 and 1.1860. On the other hand, the price is under yesterday's close at 1.1893. Checking the hourly graphics, we see that the 20- and 50-day EMA are under the 200-day EMA.
The resistances are at 1.1894 (November 4th high), 1.2379 (October 31st high) and 1.3000 (key). The traders are also watching the supports at 1.1464 (November 5th low), 1.1000 (key) and 1.0724 (23.60% retracement).
This session is being mixed for the pair. The fact that te Chinese gonverment has announced a stimulus plan for the economy, renewed the appetite for high yielders in the Asian session, improving the outlook for crude demand.
This way, the energetic commodity rebounded from the 60 dollar key support to the 65 dollar mark. Despite that, the apetite has dimmed in the last minutes, waiting for the Wall Street opening. Wall Street is worried about the current economic outlook, allowing the greenback refuge to rebound slightly against its neighbor.
Meanwhile, the 60-minute RSI is at 52 points, near the oversold area. The volatility per hour could reach 210 pips. Checking the daily graphics, the current price is slightly over the 38.20% (1.1765) and over the 50.00% (1.2589) Fibonacci retracements.
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