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Alert - 14:55 (CET) - UsdCad
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Given the current rebound on the crude barrel, to the 51 dollars area, the Canadian Dollar managed to regain the ground lost last week against the greenback.
Waiting for the Wall Street session to open, the UsdCad is trading at 1.2644, ranging between 1.2590 and 1.2847. Checking the hourly graphics, we see that the 20- and 50-day EMA are over the 200-day EMA.
The resistances are at 1.3000 (key), 1.3247 (August 31st 2004 high) and 1.3669 (June 21st 2004 high). The traders are also watching the supports at 1.2500 (ley), 1.2000 and 1.1657 (October 11th low).
Meanwhile, the 60-minute RSI is at 42 points, rebounding the overbought area. The volatility per hour could reach 285 pips. The current price is over the 61.80% (1.2100), and under the 100.00% (1.3990) Fibonacci retracement lines.
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