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Forex: EUR/USD back above 1.3000 on Obama comments

“We will get through this, will not be an ‘Apocalypse’”. Those were the words US President Barack Obama used to partly alleviate the ‘sequester’ burden, and the excuse that risk-related assets found to halt the downside and start picking up pace. The euro found some oxygen after President Obama’s comments, climbing back above the 1.3000 psychological limestone, although the selling pressure still dominates the scenario.

As of writing, the cross is losing 0.39% at 1.3005
Next support levels align at 1.2929 (low Dec.11) ahead of 1.2910 (76.4% of Nov.-Feb. rise) and then 1.2881 (low Dec.10).
On the other hand, a break above 1.3060 (61.8% Fibo) would aim for 1.3101 (high Mar.1) en route to 1.3163 (high Feb.28).

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