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Alert - 15:00 (CET) - UsdCad
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The UsdCad is trading at 1.2304, ranging between 1.2130 and 1.2330. Checking the hourly graphics, we see that the 20- and 50-day EMA are over the 200-day EMA.
The resistance are set at 1.2500 (key), 1.2847 (November 24th high) and 1.3000 (key). The supports are watched at 1.2000 (key), 1.1657 (November 10th low) and 1.1464 (November 5th low).
This session, the Dollar advanced 0.49% against the loonie, as the crude barrel is back to its freefall, before the US weekly reserves reading later in the week. Remember that Canada exports oil and its currency is correlated to the crude price swings.
Meanwhile, the 60-minute RSI is at 63 points, back to the overbought area. The volatility per hour could reach 200 pips. The current price is over the 38.20% (1.1777), and under the 50.00% (1.2622) Fibonacci retracement lines.
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