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Forex: EUR/USD regains 1.3000

FXstreet.com (Barcelona) - The bloc currency is trading back above the 1.3000 handle on Monday, leaving behind session lows around 1.2970 overnight.

“However, further euro upside potential in the near-term is likely to be dampened by building expectations of additional monetary easing from the ECB… Weak economic conditions outside of the US continue to help ease the negative impact of the Fed’s ongoing QE3 programme upon the US dollar”, argued Lee Hardman, Currency Analyst at BTMU.

As of writing, the cross is up 0.09% at 1.3003 with the next resistance at 1.3040 (high Apr.5) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the downside, a breach of 1.2918 (MA21d) would bring 1.2896 (MA200d) and finally 1.2868 (MA10d).

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