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Alert - 09:30 (CET) - EurUsd climbs from Asian session lows
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The single currency has rebound from the selling occurred at the end of the New York session against the Dollar, waiting for the Economic Sentiment reading by the German institute ZEW. As the stocks were losing ground, the appetite for high yielders was slowing, due to the high demand for safe haven currencies like the Dollar or the Yen.
The EurUsd trading at 1.2757, ranging from 1.2675 to 1.2769. The current price is over yesterday's close at 1.2748. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The supports are set at 1.2500 (key), 1.2324 (January 2006 high) and 1.2000 (key). As the resistance at 1.2733 (October 23rd high) was broken, the traders are watching the next at 1.3000 (key) and 1.3353 (October 21st high). In any case, the major has been ranging approximately from 1.2500 to 1.3000 this month.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 47 points, rebounding from the oversold area. The average volatility per hour is 200 pips. Checking the daily graphics, we see that the current price is under the 38.20% (1.3063) and over the 50.00% (1.2141) Fibonacci retracement lines.
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