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Forex: EUR/USD capped by 1.30 ahead of ECB

EUR/USD broke today in early Asia-Pacific to fresh 2013 lows, marginally below those printed by March 1st, around the 1.2963 level. It found some bids there, known previous support from the March-April 2012 period, then helped some hours after with the S&P release of Portugal sovereign credit outlook change from negative to stable, the agency said. This worked as catalyst for breaking above Monday's lows in the 1.2980 area, that was already working as resistance.
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Forex Flash: Sell EUR/USD rallies; target at 1.27 in 1 month - Westpac

The US dollar continues to be backed up by some inspiring data in the US, but as Westpac notes, "European data/event risk suggests selling EUR/USD rallies is the best play on majors." The banks targets 1.27 on a 1mth horizon.
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