Mizuho: the weakening U.S. dollar will continue

In the second half of this week, a pair of Euro / dollar has strengthened - after the rollback of steam rose 1.4080 to 1.4300, which represents a 61.8% Fibonacci correction after the decline from 5 to 12 August. Mizuho Bank analysts believe that the week's closing level above 1.4300 will encourage further development of bull's momentum. The bank believes that the recent decline in euro / dollar was rehabilitative in nature and, consequently, would soon weaken the U.S. dollar will continue. At this time, a pair of Euro / dollar traded at 1.4272.