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Alert - 09:20 (CET) - Dollar advances 1.30% against the Euro
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The equity markets in Asia are still in negative terrain, as the investors digest a deeper than expected recession and the results of corporations like Sony Corp. and Samsung Electronics Co., which were worst than expected. This way, as the investors are seeking the Dollar safe haven, it advances 1.30% against the Euro.
On the other hand, the Euro market is reacting to Spain's unemployment figures, which are placing the country as the one with the biggest unemployment rate in the region. The traders are also waiting to know the results from the manufacturing sector in the Eurozone, predicting a larger contraction in the activity in January.
The EurUsd is trading at 1.2844, ranging between 1.2807 and 1.3028, over yesterday's close at 1.2807. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
As the key level at 1.4000 was broken, the traders are watching the resistances at 1.4719 (December 19th high), 1.4719 (December 18th high) and 1.5000 (key). The supports are set at 1.3630 (December 16th low), 1.3251 (December 12th low) and 1.3000 (key).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 26 points, oversold. The average volatility per hour is 190 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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