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Forex: EUR/USD hovering over 1.2880

FXstreet.com (Barcelona) - The bloc currency attempted a rebound to the area of 1.2920 after the ECB informed that it will provide liquidity to Cyprus. In the same direction, unconfirmed rumors that the IMF may get involved in order to sort out the Cyprus’s bailout helped in the intent, although it later proved to be just ephemeral.

Euro docket on Wednesday seems interesting a priori, as Germany will publish its Producer Prices ahead of the EMU’s Current Account. A 10-year auction in Germany will follow, preceding the preliminary figures of the EMU’s Consumer Confidence for the month of March. Across the pond, the FOMC gathering will be in the limelight.

As of writing, the cross is down 0.61% at 1.2878 and a breach of 1.2855 (low Mar.19) would open the door to 1.2827 (low Nov.22) and then 1.2730 (low Nov.19).
On the flip side, resistance levels align at 1.2995 (high Mar.18) en route to 1.3009 (MA10d) and then 1.3074 (MA21d).

Forex Flash: 10-year US treasuries in focus surrounding Cypriot finality – RBS

We continue to see a 1.70% to 2.13% range in 10-year US Treasuries. According to the RBS Research Team, “Key resistance remains at 2.13% for 10-years, while near-term support is 1.80% - a break through here should see extension to 1.70%. Moreover, momentum measures are looking better for bonds with short-term work now bullish and intermediate term studies (weeklies) oversold and trying to turn bullishly as well.”
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Cypriot levy rejected, European leaders weigh in

Cyprus’s parliament rejected an unprecedented levy on bank deposits, rendering a blow to European plans of coercing depositors to shoulder part of the country’s rescue in a standoff that risks renewed tumult in the euro area.
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