Forex: EUR/USD steady at 1.4968

Wed, Nov 25 2009, 01:28 GMT
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FXstreet.com (Sydney) – The EUR/USD is trading at its opening price of 1.4968. The pair however, has recovered after posting an intraday low of 1.4888. The EUR/USD finds support at 1.4932 while resistance can be found at 1.5019. The pair is considered slightly bearish.

In the US, stocks fell as growth data was revised downwards. The Dow Jones fell slightly as the government announced that GDP for the September quarter grew by 2.8% down from the initial estimate of 3.5%. Shares however, did recover some losses after the Fed raised its outlook for US growth for 2010 was raised from 2.5% to 3.5%. While these overall were positive news, it highlighted a weakness in the economy.

EUR/USD

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