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27 Mar 2013
Forex: EUR/USD keeps falling, round 1.2755/60
FXstreet.com (Barcelona) - The selling interest in the shared currency is now picking up pace, dragging the cross to the vicinity of 1.2760
Against the backdrop of increasing jitters on Cyprus, Strategist Jane Foley at Rabobank argued “Despite the efforts of various Eurozone politicians to reassure depositors that Cyprus’s banking bail in will not be used as a template, they will find it difficult to re-seal the can of worms”.
At the moment, the cross is losing 0.74% at 1.2760 and a drop beyond 1.2730 (low Nov.19) would open the door to 1.2662 (low Nov.13) and finally 1.2627 (low Sep.7).
On the upside, resistance levels line up at 1.2922 (MA10d) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
Against the backdrop of increasing jitters on Cyprus, Strategist Jane Foley at Rabobank argued “Despite the efforts of various Eurozone politicians to reassure depositors that Cyprus’s banking bail in will not be used as a template, they will find it difficult to re-seal the can of worms”.
At the moment, the cross is losing 0.74% at 1.2760 and a drop beyond 1.2730 (low Nov.19) would open the door to 1.2662 (low Nov.13) and finally 1.2627 (low Sep.7).
On the upside, resistance levels line up at 1.2922 (MA10d) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).