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28 Mar 2013
Forex: EUR/USD hovering over 1.2815/20
FXstreet.com (Barcelona) - The bloc currency remains buoyant on Thursday in the vicinity of 1.2815/20, although retreating from session highs above 1.2840, as concerns on Cyprus seem to be at ease for now.
“With Cypriot banks reopening today the Euro has found some firmer footing, and has retaken $1.2800 against the US Dollar amid the lack of the bank run. Italian and Spanish yields continue to edge higher, however, as the political situation in Italy appears to be nearing the apex of its crescendo”, assessed Christopher Vecchio, Currency Analyst at DailyFX.
At the moment, EUR/USD is gaining 0.32% en 1.2819
Next resistance levels line up at 1.2867 (high Mar.27) followed by 1.2883 (MA200d) and finally 1.2890 (high Mar.26).
On the flip side, a break below 1.2751 (low Mar.27) would bring 1.2730 (low Nov.19) and finally 1.2685 (weekly cloud base).
“With Cypriot banks reopening today the Euro has found some firmer footing, and has retaken $1.2800 against the US Dollar amid the lack of the bank run. Italian and Spanish yields continue to edge higher, however, as the political situation in Italy appears to be nearing the apex of its crescendo”, assessed Christopher Vecchio, Currency Analyst at DailyFX.
At the moment, EUR/USD is gaining 0.32% en 1.2819
Next resistance levels line up at 1.2867 (high Mar.27) followed by 1.2883 (MA200d) and finally 1.2890 (high Mar.26).
On the flip side, a break below 1.2751 (low Mar.27) would bring 1.2730 (low Nov.19) and finally 1.2685 (weekly cloud base).