Back
22 Mar 2013
Forex: EUR/USD flat at 1.2980/85, ahead of Cyprus
FXstreet.com (Barcelona) - The bloc currency remains flat-lined around 1.2980/85 as we enter the last part of the NA session on Friday.
With the main focus on the bank-deposits levy, markets are eagerly waiting for the parliamentary vote in Cyprus, which is going on right now although it promises to extend over the weekend.
Despite recent optimistic comments by Government officials, the negotiations would require a paramount effort by the island to comply with the EU requirements, while the clock is ticking towards Monday, when the ECB will withdraw its support via it’s ELA programme.
At the moment, EUR/USD is advancing 0.69% at 1.2984 facing the next hurdle 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).
With the main focus on the bank-deposits levy, markets are eagerly waiting for the parliamentary vote in Cyprus, which is going on right now although it promises to extend over the weekend.
Despite recent optimistic comments by Government officials, the negotiations would require a paramount effort by the island to comply with the EU requirements, while the clock is ticking towards Monday, when the ECB will withdraw its support via it’s ELA programme.
At the moment, EUR/USD is advancing 0.69% at 1.2984 facing the next hurdle 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).