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21 Mar 2013
Forex: EUR/USD back around 1.2900
FXstreet.com (Barcelona) - The single currency is trading back to the area of 1.2900 on Thursday after a failed attempt to break above 1.2920 on disappointing PMI figures from the euro area.
The well-received Spanish bond auctions did not help the euro either, despite lower yields and strong demand.
In the meantime, EU officials have extended their hopes of a positive outcome in Cyprus over the weekend, against the backdrop of the increasing uncertainty. Recall that local banks are expected to re-open doors on Tuesday. In addition, an interesting poll results showed that nearly 70% of Cypriots would be willing to leave the euro.
The cross is now losing 0.31% at 1.2903 with the immediate support at 1.2878 (MA200d0 ahead of 1.2865 (Lower Bollinger) and finally 1.2844 (low Mar.19).
On the flip side, a surpass of 1.2979 (high Mar.20) would clear the way to 1.3032 (MA21d) and then 1.3128 (MA100d).
The well-received Spanish bond auctions did not help the euro either, despite lower yields and strong demand.
In the meantime, EU officials have extended their hopes of a positive outcome in Cyprus over the weekend, against the backdrop of the increasing uncertainty. Recall that local banks are expected to re-open doors on Tuesday. In addition, an interesting poll results showed that nearly 70% of Cypriots would be willing to leave the euro.
The cross is now losing 0.31% at 1.2903 with the immediate support at 1.2878 (MA200d0 ahead of 1.2865 (Lower Bollinger) and finally 1.2844 (low Mar.19).
On the flip side, a surpass of 1.2979 (high Mar.20) would clear the way to 1.3032 (MA21d) and then 1.3128 (MA100d).