The EURUSD has reached the key resistance level and expected to drop as the dollar may strengthen as a result of open market operations conducted by The Fed. The Fed buying up US Treasuries and other assets to encourage banks to keep lending and prevent a market collapse.
It has also stepped in with new programmes to lend to small and medium-sized firms and buy corporate and municipal debt. This seems to strengthen the dollar, furthermore investors may turn its investment into safe haven currency such as USD rather than riskier asset such as Euro.
It has also stepped in with new programmes to lend to small and medium-sized firms and buy corporate and municipal debt. This seems to strengthen the dollar, furthermore investors may turn its investment into safe haven currency such as USD rather than riskier asset such as Euro.