EUR/USD .......Cheaper Euro Helping Exporters

Germany along with China is the worlds biggest exporter, with an estimate of $1,498,000,000,000 worth of exports in 2008.

The recent weakness in the Euro has certainly helped exporters in the European countries gain a much needed competitive edge against its rivals on the world stage.

This in turn has helped the German DAX Index rally to yearly highs as export related companies enjoy the windfall from an increase in sales.

Technical Outlook

The chart illustrates support around the 1.43-1.42 region. The currency pair sold off very aggressively once the upward sloping trend line was breached. The 200 moving average on the daily chart is near the 1.42 level providing it good support in the short-medium term.