FX forecast for May 29 – Bulls gain control

The international currency market remains very unstable as the bulls took over control from the bears and the euro reached again the $1.3990 level, Financial Brains director, PhD Sveatoslav Mihalache has told Info-Prim Neo. It is now yet known how long the European currency will continue this “nervous” game, oscillating between $1.38 and $1.40, Mihalache said. But, if the resistance level of $1.4050 is passed, the euro could climb to $1.4170. At the same time, the bears could again take control and the euro would slide, with the support levels standing at $1.3920, $1.3875 and $1.3737. [EUR/MDL:] Today, the currency exchange facilities in Moldova will buy the euro for 15.52 – 15.57 and sell it for 15.65 – 15.70 lei. [USD/MDL:] The National Bank of Moldova yesterday intervened again on the domestic market and purchased an estimated US$4-8 million for lei. The currency exchange facilities today will buy the dollar for 11.12 – 11.16 lei and sell it for 11.22 – 11.26 lei. For further details, visit www.fb.md.