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Alert - 09:25 (CET) - EurUsd breaks 1.41, after the Fed's rate cut
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After the Fed announced that it had cut rates by 75bp, saying also that it would leave them ranging between 0% and 0.25%, the US Dollar took another global blow. First of all, because from now on the Fed will put the focus to the quantitative side, which implies buying Treasuries, expanding considerably the Dollar offer in other markets.
The EurUsd was forced to break 1.4000 and is trading at 1.4152, ranging between 1.4002 and 1.4192, over yesterday's close at 1.4002. 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 1.4000 (key), 1.3630 (December 16th low) and 1.3251 (December 12th low). The resistances are at 1.4192 (intrasession high), 1.4435 (September 30th high) and 1.4636 (September 29th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 69 points, almost overbought. The average volatility per hour is 360 pips. Checking the daily graphics, we see that the current price is over the 38.20% (1.3920) and under the 23.60% (1.4710) Fibonacci retracement lines.
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