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Alert - 15:45 (CET) - CadJpy
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The CadJpy is trading at 73.28, ranging from 73.14 to 74.59. The current price is under yesterday's close at 74.49. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the crude barrel, in the 46 dollar mark, declines and the equity markets are uncertain, the pair broke the support at 74.37 (November 24th low). Now, the traders are watching the next at 72.13 (November 20th low) and 70.00 (key). The resistance are being watched at 80.00 (key), 82.39 (November 11th high) and 85.24 (November 10th high).
Remember that Canada exports oil, so its currency ir highly affected by the crude price swings.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 37 points, rebounding from the overbought area. The average volatility per hour is 140 pips. Checking the graphics again, we see that the current price is under the 61.80% (90.79) and over the 100.00% (62.24) Fibonacci retracement lines.
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