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Forex: EUR/USD orbiting around 1.2900

FXstreet.com (Barcelona) - The single currency is holding steady around the 1.2900 figure on Friday, ahead of the German IFO. Prior surveys expect the indicator to come in a tad higher in March in all of its components.

In the Cypriot front, market participants would focus on the vote on banking restructuring due at 800GMT in order to spark the beginning of a solution for the ingoing crisis.
“EUR/USD should continue to slide even if it pops up on a Cypriot good bank/bad bank deal, which is likely to passed by the Parliament over the weekend”, commented Sean Callow, Analyst at Westpac.

At the moment, the cross is up 0.07% at 1.2905 with the next resistance at 1.2979 (high Mar.20) followed by 1.3032 (MA21d) and finally 1.3128 (MA100d).
On the flip side, a break below 1.2878 (MA200d) would expose 1.2865 (Lower Bollinger) and then 1.2844 (low Mar.19).

Forex: EUR/USD falls below 1.29, Cyprus fails to get Russian aid

The Euro has fallen from its daily high at 1.2934 to find a new session low in Asia at 1.288, following the news that Cyprus failed to get the financial support from Russia, Cyprus finance minister Mr. Sarris said.
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Asian markets down on concerns over Cyprus

Japan’s Nikkei Stock Average (-2.35%), Hong Kong’s Hang Seng (-0.56%) and South Korea’s Kospi (-0.11%) fell on Friday on concerns over Cyprus and its difficulty in getting financial support, also from Russia. Talks are ongoing. Mainland China’s Shanghai Composite was one exception from the overall sentiment and rose +0.15%.
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