NEWS / Foreign Exchange

New dollar record low level ??“ Forecast for EURUSD

After worsethan expected US GDP-Adv data for Q1 the dollar break the key resistance at1.3668 against the euro touching 1.3681. This is the ever-high level of euro againstthe dollar. The situation in the US economy really concerns the investors andthe Fed has to cut the interest rates soon. For short time the dollar recoveryagainst the euro as one of the key region the Michigan Sentiment-Rev showpositive results. Finally at the end of the day trading the dollar also remainunder pressure. If the US economy continues to generate negative news thetrading will break 1.37 and far at the range of 1.38/1.40 is expecting the endof the current strong upward movements.