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Forex: EUR/USD keeps the upside, eyes on 1.3050

FXstreet.com (Barcelona) - The single currency continues its march north on Monday, eyeing 1.3050 in a context dominated by the risk appetite.

“The euro also appears to be benefitting from the renewed search for yield amongst investors attracted by the higher yields still on offer in the euro-zone. It has resulted in a modest tightening in the euro-zone sovereign credit risk premium over the past week which also likely reflects the ongoing easing of concerns over fallout from developments in Cyprus”, commented Currency Analyst Lee Hardman at BTMU.

EUR/USD is now gaining 0.25% at 1.3044 and a break above 1.3068 (hourly high Apr.9) would clear the way to 1.3107 (high Mar.15) and finally 1.3115 (38.2% of Feb-Apr slide).
On the flip side, support levels line up at 1.2963 (low Apr.8) ahead of 1.2949 (high Apr.4) and then 1.2919 (MA21d).

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