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22 Mar 2013
Forex: EUR/USD hovering over 1.2980, eyes on Cyprus
FXstreet.com (Barcelona) - The bloc currency has now retreated from highs above the psychological mark of 1.3000 to the current area of 1.2980, ahead of the crucial debate in Cyprus, against the backdrop of increasing protests outside the Parliament in Nicosia.
The euro quickly surpassed the 1.3000 figure on Friday after Government officials expressed their optimism regarding a quick solution of the crisis that has been whipping the island for over a week.
At the moment, EUR/USD is advancing 0.66% at 1.2981 with the next resistance at 1.3004 (high Mar.22) ahead of 1.3107 (high Mar.15) and finally 1.3123 (MA30d).
On the flip side, a breach of 1.2888 (low Mar.22) would open the door to 1.2879 (MA200) and then 1.2857 (low Mar.20).
The euro quickly surpassed the 1.3000 figure on Friday after Government officials expressed their optimism regarding a quick solution of the crisis that has been whipping the island for over a week.
At the moment, EUR/USD is advancing 0.66% at 1.2981 with the next resistance at 1.3004 (high Mar.22) ahead of 1.3107 (high Mar.15) and finally 1.3123 (MA30d).
On the flip side, a breach of 1.2888 (low Mar.22) would open the door to 1.2879 (MA200) and then 1.2857 (low Mar.20).