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Alert - 17:20 (CET) - EurUsd profit taking, after decline in Wall Street
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The EurUsd is trading at 1.2643, ranging between 1.2533 and 1.2754, over yesterday's close at 1.2540. Checking the hourly graphics, the Exponential Mobile Averages (EMA) have crossed the 200 period EMA, which explains the recent weakness in the major.
As the price broke the support at 1.2800 (December 9th low), the traders are challenging the next at 1.2628 (December 5th low) that, if broken, will make the traders watch the next at 1.2500 (key). The resistances are set at 1.3000 (key), 1.3387 (January 19th high) and 1.3799 (January 8th high).
Meanwhile, the 60-minute Relative Strength Index (RSI) is at 51 points, after being overbought. The average volatility per hour is 260 pips, with the price between the middle and upper range. 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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