OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD on hold above 1.2900 waiting for Cyprus vote

FXstreet.com (Barcelona) - EUR/USD is last at 1.2911, off early session lows at 1.2889, slightly retracing from session highs at 1.2915, while local share markets trade in a mixed way, with Nikkei leading the loses down -1.58%. “The local market is again in consolidation mode,” says Peter Fell at FXBriefs.com, adding: “large option expiry’s are said to be at 1.2900, given there is no event risk until Europe opens, I cannot see the EUR/USD moving to far from the 1.2900 handle.”

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “Technical readings in the hourly chart show bears remain in control, as price remains capped by its 20 SMA while indicators stand in negative territory,” the analyst noted, expanding: “In the 4 hours chart indicators are getting deeper in negative territory, which also favors a downside continuation. However, market will likely remain on hold waiting more next chapter on Cyprus,” she concludes.

Valeria finds support levels at: 1.2880, 1.2840 and 1.2790, while resistance levels at: 1.2950, 1.2970 and 1.3000.

Forex Flash: Room for confusion and surprise at BoJ April 4 meeting - RBS

There is room for confusion and surprise on the BoJ April 4 monetary policy meeting, "either up or down for JPY" says Greg Gibbs, FX strategist at RBS.
Read more Previous

ECB plans capital controls in Cyprus, says Handelsblatt

According to the newspaper Handelsblatt, the European Central Bank is preparing capital controls so that it can prevent money leaving troubled Cyprus.
Read more Next
Start livechat