FX forecast for Aug. 26

The currency market remained stagnant for two days. The trade corridor varied between 1.4270 – 1.4350. The information about Germany’s GDP published on Tuesday did not influence the market, the Financial Brains director, PhD Sveatoslav Mihalache has told Info-Prim Neo. The business climate indicator in Germany will be made public today at 11.00, the local hour. According to Sveatoslav Mihalache, the FX players forecast that it will grow for the fifth month in a row. “If the indicator meets expectations, the euro will gain against the US dollar and vice versa,” the expert said. The euro is now trading at 1.4295. The first resistance level of the EUR/USD pair is 1.4350/60, while the second is 1.4440/50 - the highest level this year. The first support level is 1.4270, the second – 1.4215, while the third – 1.4130/40. The Financial Brains team put the purchase order at 1.4270, while the sales order at 1.4420. Sveatoslav Mihalache also said that the currency exchange facilities in Moldova on national holidays usually decrease the ask rates. EUR/MDL. At the currency exchange facilities the euro today will be bought for 15.85-15.90 lei and sold for 15.98 – 16.03 lei. USD/MDL. The dollar will be purchased for 11.16 – 11.18 lei and sold for 11.25 – 11.26 lei.