Daily Forex Commentary for May 26, 2009

May 25th, 2009 • Related • Filed Under




May 26, 2009

Fundamentals Bearish for Dollar But Technical Areas Could Stop Slide

Rising Treasury yields are weakening the U.S. Dollar. Traders are also concerned that the growing federal deficit will lead to a reduction of the U.S. debt rating. Traders are also positioning themselves ahead of next week’s Treasury auction. Debt supply is expected to increase by as much as $101 billion with more to come.

The daily EUR USD is on pace to test a 50% level at 1.4184. Regaining this area sets up a further rally to 1.4621. …
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