14.03.2014 - The dollar strengthened on labor market data

Price reduction of euro was caused by the positive statistics on the decline in the for unemployment claims to 315 thousand and an increase in retail sales by 0.3% in the USA. On this background euro declined to the strong support line at 1.3850. In case of growth resumption, the price will reach 1.3950 again and will continue to move towards 1.4000. For further reduction, the price must be fixed below 1.3850, after which the quotes will fall to levels 1.3800, 1.3750 and 1.3700. We maintain a positive medium-term and long-term negative outlook for the euro.

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