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22 Mar 2013
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).
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).