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Alert - 09:30 (CET) - EurUsd
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The EurUsd is trading at 1.2664, ranging between 1.2539 and 1.2675, over yesterday's close at 1.2578. Checking the hourly graphics, the 50- and 50-period Exponential Mobile Averages (EMA) are under the 200-period EMA. Still, the price is getting closer to the latter's resistance (1.2700).
As the support at 1.2800 (December 9th low) was broken, the traders are watching the next at 1.2628 (December 5th low) and 1.2500 (key). The resistances, on the other hand, are beiing watched at 1.3000 (key), 1.3387 (January 19th low) and 1.3799 (January 8th low). In any case, remember that the Euro has been climbing from yesterday's low at 1.2539 dollars, which corresponds to the minimum levels of February.
In this session, we're witnessing a clear appetite for high yielders, as the traders are enthusiastic about this week's central bank rate cuts. This way, the Euro is climbing 0.70% against the Dollar.
Meanwhile, the 60-minute Relative Strength Index (RSI) is at 64 points, after being oversold. The average volatility per hour is 145 pips, with the price between the medium and lower channel. Checking the daily graphics, we see that the current price is under the 38.20% (1.3077) and over the 50.00% (1.2160) Fibonacci retracement lines.
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