FX forecast for Apr. 22

- [USD/MDL:] The dollar yesterday surged against the Moldovan leu, which was due to overreaction rather than determined by the real situation on the market, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. Many actors, including the importers, hurried to enter the market in a surge of panic in the first half of the day, until the National Bank intervened by selling dollars to offset the apprehension. According to earlier predictions, the dollar should find its balance around the level of 12.60 lei, and yesterday’s events showed that the National Bank appears to have the same vision. Thus, the recommendation to refrain from buying dollars at rates higher than 12.62 lei remains in force. Rates predicted for today: 12.55 – 12.58 lei (bid), and 12.67 – 12.69 lei (ask). [EUR/USD:] Volatility was low yesterday and no significant changes occurred in the euro-dollar pair. Currently the euro trades at $1.3380. Resistance levels: $1.3440; $1.3515; $1.3580. Support levels: $1.3325; $1.3280. Graphs are ambiguous as to the trend of the euro, but the Financial Brains will continue risking by purchasing euro as soon as it touches the support levels. [EUR/MDL:] Bid rates around 16.85 lei; ask rates around 17.03 lei. For further details visit www.fb.md or www.financialbrains.eu

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