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Forex Flash: Substantial further EUR/AUD decline ahead - Westpac

FXstreet.com (Barcelona) - According to Westpac FX strategist Sean Callow, political unrest in the Eurozone should weigh on the EUR/USD multi-week while AUD/USD maintains a broad range, "leaving EUR/AUD biased to further decline near term."

Sean adds: "EUR/AUD 1.2350 is the next target but Nov’s 1.22 lows are probably just out of reach so long as Australia’s domestic outlook is soft enough to keep the RBA warning of further monetary easing. The ECB’s bond market backstop plan also argues against substantial further EUR/AUD decline."

Cyprus Gvrt Spokesman: Parliament unlikely to ratify deposit levy

According to a Cyprus Government Spokesman, it appears that the Parliament is unlikely to ratify the bank deposit levy, adding that the government remains focus on finding other options to ease the burden on savers.
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Forex: EUR/USD from 1.2968 to 1.2934 in a matter of minutes

EUR/USD had a brief spike through 1.2965/75 supply area, which keep limiting advances for the bulls. The rise came, surprisingly, following a Euro-negative headline, in which according to a Cyprus Government Spokesman, the Parliament is unlikely to ratify the bank deposit levy, now trying to find other options to ease the burden on savers. After the ephemeral climb, the Euro automatically fell almost 40 pips to an Asian session low of 1.2934 breaking through the twin floow at 1.2937, printed earlier in the Tokyo open.
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