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Forex: EUR/USD back below 1.2900

FXstreet.com (Barcelona) - The bloc currency is once again trading in sub 1.2900 levels after the Current Account figures in the euro area showed a €4.9 billion deficit in January from a €29 billion surplus in the previous month.

Regarding Cyprus, the press conference by finance minister M.Sarris from Moscow at 10GMT has now been cancelled, adding even more uncertainty to the situation.

At the moment, the cross is up 0.14% at 1.2887
Next resistance levels line up at 1.2970 (high Mar.19) followed by 1.3009 (MA10d) and then 1.3074 (MA21d).
On the flip side, a breakdown of 1.2844 (low Mar.19) would expose 1.2827 (low Nov.22) and finally 1.2730 (low Nov.19).

Forex Flash: Berlusconi has provided a path toward a new even if limited government - BBH

Brown Brothers Harriman analysts note that in Italy, Berlusconi has provided a path towards a new, but limited government by offering to support the PD´s Bersani as PM in exchange for a PDL candidate becoming president.
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EU: Current Account n.s.a (Jan): €-4.5B vs €29B (Dec)

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