FXstreet.com (Sydney) - The EUR took advantage of the FED's inability to defend the dollar posting an intraday high of 1.5018. The EUR/USD is currently trading at 1.4994. The pair has upward tendencies and finds support at 1.4815 while there is resistance at 1.4990.
The fall in the dollar has benefited gold, which surpassed USD 1000.00 p/oz and may reach as high as USD 1300.00 p/oz. Nonetheless gold has risen against most currencies. By contrast, the dollar has slid to a 15-month low against six major currencies after G20 nations chose to maintain their economic stimulus packages in place. With the FED keeping interest rates at historic lows, the dollar continues to sink leaving gold to gain on the 25% it already has risen for the year.