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Forex: EUR/USD hovering over 1.2795/2800

FXstreet.com (Barcelona) - The bloc currency keeps the positive tone around 1.2795/2800 ahead of the events in Cyprus, where banks are expected to re-open doors at mid-day.

“Investors remain jittery in the near-term over the potential for developments in Cyprus to lead to broader contagion materially undermining investor confidence in euro-zone assets…
Cypriot banks will re-open today following the announcement of capital controls yesterday”, assessed Lee Hardman, Currency Analyst at BTMU.

EUR/USD is now up 0.09% at 1.2790 facing the next hurdle at 1.2922 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
On the downside, a break below 1.2730 (low Nov.19) would aim for 1.2685 (weekly cloud base) and then 1.2680 (61.8% of 1.2042-1.3711).

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