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Forex: EUR/USD continues limited by 1.2965/75 supply

FXstreet.com (Barcelona) - EUR/USD remains with price capped at the 1.2965/75 intra-day supply area, mentioned earlier at the NY close, following news that Cyprus and the Eurozone agreed to soften the bank deposit tax after evidence that the Cypriot government wouldn't win parliamentary majority for a Yes vote.

According to Valeria Bednarik, chief analyst at FXstreet.com: "While a definition on Cyprus levy may take up to Thursday, investors will remain reluctant to buy the euro, and range will likely dominate the pair."

Sean Lee, founder at FXWW, notes: "EUR/USD has yet to close its opening gap from yesterday back to 1.3050 and dealers report that selling interest overnight on the approach to 1.3000 was quite heavy. Support levels were similarly strong near 1.2870/80 yesterday and this looks like being the pivotal level for the next medium term move."

Forex: GBP/JPY says good bye to BoJ's Shirakawa above 144.50

GBP/JPY is last at fresh weekly highs 144.55, overcoming previous weekly close Friday around the 144.00 handle, following the massive opening gap down to fresh weekly lows at 142.18 the cross started the week with yesterday. The move higher comes on the back solely of Yen weakness, as USD/JPY recovers more than +1.7% from yesterday's lows, while GBP/USD keeps flat for the time being.
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Forex: AUD/USD reverses on Rio Tinto's comments

Following latest RBA meeting minutes showing a neutral stance and previous RBA's Debelle and Lowe's speeches, with AUD/USD printing session highs at 1.0405 on the back of the news, implying no new rate cuts are around the corner, the pair has now slipped back to session lows, last at 1.0386.
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