FX forecast for Sept. 23
The dollar traded yesterday on the Moldovan interbank market at 11.27 lei, which indicates a continuous appreciation against the leu. The demand for dollars also remained high, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo.
[EUR/USD:] After breaking the $1.4770/80 resistance level, the euro hit yet another record high this year, of $1.4840, but then rebounded to $1.4810.
The technical picture based on 4-hour, daily and weekly graphs remains unchanged and points to an eventual decrease. The euro's rise is attributed to inertia, as the euro seems overbought at this point, the report of long positions being a proof to that.
Today an important event that might influence the development of the EUR/USD pair will be the meeting of the US Federal Reserve. Although its benchmark rate is expected to remain unchanged at 0.25%, the participants of the forex trading market are counting on an eventual rise in the interest on the dollar.
[EUR/MDL:] The euro will buy at 16.53 – 16.58 lei and sell from 16.65 lei and higher.
[USD/MDL:] 11.22 – 11.25 lei (bid) and 11.31 – 11.35 (ask).
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