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Forex: EUR/USD back at 1.2950/55

FXstreet.com (Barcelona) - After another failed attempt to reach 1.2980, the bloc currency faltered and retreated to the current comfort zone around the mid 1.29s.

Robert Rennie, FX Strategist at Westpac, argued that there would be consequences across Europe stemming from this weekend developments in Cyprus, most likely jitters in financial markets. “The EUR is likely to continue its slide in our view. Indeed, the consequences could be deeper… At the end of the day, we all know (hope?) that the ECB will be there to do ‘whatever it takes’. But at what price? That price could now be much higher than we all thought with depositors paying that price”, the expert signalled.

At the moment, the cross is losing 0.91% at 1.2955 and a breach of 1.2882 (low Mar.180 would open the door o 1.2878 (low Dec.7) and then 1.2872 (MA200d).
On the flip side, resistance levels line up at 1.3094 (MA21d) ahead of 1.3129 (MA100d) and then 1.3135 (high Mar.8).

Forex Flash: EUR/CAD with short and medium term downside risks – TD Securities

The EUR/CAD broader tone here continues to suggest consolidation (potential bull flag), but spot is spending quite a bit of time below the short-term MA (28– and 40-day) signals currently (the most, in fact since November). Also, short-term trend momentum is flipping to bearish and the longer-term studies are starting to get dragged along, according to TD Securities analysts Shaun Osborne and Greg Moore, adding long-term concernings signs to it as further weakness through the balance of March would suggest building medium-term downside risks.
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Congress returns this week to address the immediate budgetary concerns that have waxed and waned amidst multiple debates in Washington. Indeed, US lawmakers are preparing to pander to topics such as immigration, gun control, and energy policy, preferring to transition into the looming deadline on March 27, which threatens to shut down the government.
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