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Forex: EUR/USD hovering over 1.2930/35, Cyprus eyed

FXstreet.com (Barcelona) - The sentiment surrounding the bloc currency remains depressed as the risk-off mode is posed to prevail in the markets ahead of the parliamentary vote in Cyprus.

“However, the longer the indecision lasts, the greater the risk that we see a more notable drop in EUR/USD as fears increase over a bank collapse or departure of Cyprus from the euro-zone”, suggested Derek Halpenny, Strategist at BTMU.

As of writing, the cross is losing 0.18% at 1.2934 with the next support at 1.2883 (low Mar.18) ahead of 1.2878 (low Dec.7) and finally 1.2872 (MA200d).
On the flip side, a breakout of 1.3009 (MA10d) would open the door to 1.3042 (high Mar.18) and then 1.3094 (MA21d).

Forex Flash: EUR/USD may return to 1.3067 - Commerzbank

After the Monday drop to 1.2882, close to the 200 day moving average, now at 1.2875, the EUR/USD is back near the 1.3000 mark and Commerzbank analysts believe this can extend: “This may well be bettered today with the two month downtrend channel resistance line at 1.3067 then being eyed. This should cap, though”, wrote analyst Karen Jones, retaining a medium term bearish forecast while 1.3107 Friday high caps on a daily New York closing basis.
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Forex Flash: Cypriot Parliament to approve bailout fearing the ECB – TD Securities

After much discussion over the Cyprus bailout, negotiations concluded last night to reduce the impact of the levy on smaller savers and “the Cypriot parliament is due to vote on the bailout conditions today, although there is a risk that this is pushed back to tomorrow”.
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