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Alert - 15:40 (CET) - Euro advances against the Dollar
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In line with the OECD report, that asked its members larger stimulus plans, the new plan announced by the Fed to stimulate the credit sector renewed the appetite for high yielders.
This way, the Euro is advancing against the Dollar for the second consecutive day, breaking the 1.3000 level against the Dollar.
The EurUsd trading at 1.3039, ranging from 1.2804 to 1.3080, over yesterday's close at 1.2953. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
The traders are watching the supports at 1.2500, 1.2324 (January 2006 high) and 1.2000 (key). As the resistance at 1.3000 (key) was broken, the traders are watching the next at 1.3353 (October 21st high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 70 points, just in the overbought area. The average volatility per hour is 340 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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