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26 Mar 2013
Forex: EUR/USD glued to 1.2850/55
FXstreet.com (Barcelona) - After dipping to fresh lows in sub 1.2830 levels, the single currency returned to today’s comfort zone in the vicinity of 1.2850/55
The euro remained unchanged after the poor data from the US Consumer Confidence, falling to 59.7 in March from 68 in the previous month. Further data in the US economy showed that New Home Sales missed expectations, decreasing to 411K in February vs. 420K expected.
In the Cypriot front, and according to the central bank, uninsured deposits in the Bank of Cyprus would lose about 40%.
At the moment, the cross is flat at 1.2850 facing the next resistance at 1.2950 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
On the flip side, a breach of 1.2832 (low Mar.25) would clear the way to 1.2730 (low Nov.19) en route to 1.2691 (low Nov.16).
The euro remained unchanged after the poor data from the US Consumer Confidence, falling to 59.7 in March from 68 in the previous month. Further data in the US economy showed that New Home Sales missed expectations, decreasing to 411K in February vs. 420K expected.
In the Cypriot front, and according to the central bank, uninsured deposits in the Bank of Cyprus would lose about 40%.
At the moment, the cross is flat at 1.2850 facing the next resistance at 1.2950 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
On the flip side, a breach of 1.2832 (low Mar.25) would clear the way to 1.2730 (low Nov.19) en route to 1.2691 (low Nov.16).