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Alert - 09:25 (CET) - EurUsd back to 1.30
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The Asian session was very positive for the Euro, as it consolidated the 1.30 dollar area, trading now around 1.3131 dollars. The fact that the markets have already priced in the bailout plan approval for the automakers brought a relief to the parks.
In any case, the equity markets in Europe started the session today on the wrong foot, as there is a great uncertainty whether the bailout plan will pass on the Senate, as many Republicanos opose it.
The EurUsd is trading at 1.3125, ranging between 1.3001 and 1.3158, over yesterday's close at 1.3023. 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 resistances at 1.2733 (October 23rd high) and 1.3000 (key) were broken, the traders are already eyeing the next at 1.3353 (October 21st high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 75 points, overbought. The average volatility per hour is 130 pips. Checking the daily graphics, we see that the current price is over the 61.80% (1.3063) and under the 50.00% (1.3278) Fibonacci retracement lines.
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