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Alert - 09:20 (CET) - EurUsd
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After the complications in the equity markets at the beginning of the week, this managed to rebound, bringing back the appetite for high yielders. This way, at the end of the Wall Street yesterday and in Asia today, the Euro rebounded against the Dollar, conquering the 1.3000 level. The traders are enthusiasmed by all the efforts that the Obama administration is making to take the US out of the recession.
The EurUsd is trading at 1.3012, ranging between 1.2944 and 1.3068, under yesterday's close at 1.3023. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 1.2800 (December 9th low), 1.2628 (December 5th low) and 1.2500 (key). If the resistances at 1.3000 (key) is broken, the traders will be watching the next at 1.3387 (January 19th high) and 1.3799 (January 8th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 53 points, after being oversold. The average volatility per hour is 2200 pips.Checking the daily graphics, we see that the current price is under the 50.00% (1.3280) and over the 61.80% (1.2740) Fibonacci retracement lines.
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