Forex | Forex | Forex: EUR/USD tests 1.4050 after falling to 1.4000 (30/06/2009 16:47:00)

Forex: EUR/USD tests 1.4050 after falling to 1.4000

FXstreet.com (Córdoba) – U.S. markets are falling strong but the downside rally has stopped for the moment. The Dollar rally also eased and EUR/USD is attempting to extend the recovery but has found resistance at 1.4050. The pair has a strong support at 1.4000 (intra-day low) and below at 1.3980 (June 29 low). The Euro lost 150 pips after topping at 1.4147 during the American session.

The FastBrokers Research Team afirms: “Investors should fasten their seatbelts because the newswires are just getting warmed up. Tomorrow we’ll receive important housing, manufacturing and employment data from the U.S. and Britain. On Thursday the ECB will outline its newest stance on monetary policy while America releases more important unemployment data. Due to all of the news we expect volatility to pick up as the week progresses, meaning the EUR/USD’s trading range may be broken sooner than we anticipate.”



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