Tuesday, May 5, 2009

Forex: EUR/USD breaks 1.3335

Dollar got stronger against the euro since the opening bell in Wall Street. Recently broke support zone at 1.3335 and fell to 1.3318 (new intra-day low). Now EUR/USD is trying to get back above 1.3335. So far the pair is down 0.60% for the day. Next support level is located at 1.3300. 

This move came after the Treasury of the U.S. sold $35 billion in 3-year notes to yield 1.473% matching last month record amount. Ten years note remain up after the auction. A few hours ago Ben Bernanke told that he sees a growing economy by the end of the year. Those words where not enough to lift the markets: major index are down around 1%. 

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