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Forex: EUR/USD hovering around 1.2935/40 after ZEW

FXstreet.com (Barcelona) - After climbing to the boundaries of 1.2960, the single currency is back to the comfort zone around 1.2940 on mixed data from the ZEW Survey. In fact, the better-than-expected results from the German Economic Sentiment and Current Situation have been eclipsed by the drop of the EMU Economic Sentiment to 33.4 in March from 42.4, fully retracing the up-move.

The demand for the shared currency remains subdued on Tuesday as uncertainties stemming from Cyprus are still plotting against any attempt of recovery in investors’ confidence.

EUR/USD is now losing 0.10% at 1.2944 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 surpass of 1.2995 (high Mar.18) would accelerate the upside to 1.3009 (MA10d) and then 1.3074 (MA21d).

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