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19 Mar 2013
Forex: EUR/USD hovering over 1.2880
FXstreet.com (Barcelona) - The bloc currency attempted a rebound to the area of 1.2920 after the ECB informed that it will provide liquidity to Cyprus. In the same direction, unconfirmed rumors that the IMF may get involved in order to sort out the Cyprus’s bailout helped in the intent, although it later proved to be just ephemeral.
Euro docket on Wednesday seems interesting a priori, as Germany will publish its Producer Prices ahead of the EMU’s Current Account. A 10-year auction in Germany will follow, preceding the preliminary figures of the EMU’s Consumer Confidence for the month of March. Across the pond, the FOMC gathering will be in the limelight.
As of writing, the cross is down 0.61% at 1.2878 and a breach of 1.2855 (low Mar.19) would open the door to 1.2827 (low Nov.22) and then 1.2730 (low Nov.19).
On the flip side, resistance levels align at 1.2995 (high Mar.18) en route to 1.3009 (MA10d) and then 1.3074 (MA21d).
Euro docket on Wednesday seems interesting a priori, as Germany will publish its Producer Prices ahead of the EMU’s Current Account. A 10-year auction in Germany will follow, preceding the preliminary figures of the EMU’s Consumer Confidence for the month of March. Across the pond, the FOMC gathering will be in the limelight.
As of writing, the cross is down 0.61% at 1.2878 and a breach of 1.2855 (low Mar.19) would open the door to 1.2827 (low Nov.22) and then 1.2730 (low Nov.19).
On the flip side, resistance levels align at 1.2995 (high Mar.18) en route to 1.3009 (MA10d) and then 1.3074 (MA21d).