Forex Flash: EUR/USD still bearish despite the good news - UBS

FXstreet.com (Barcelona) - “The latest strength does not change the bearish picture,” says UBS analyst Gareth Berry, “and there is a strong resistance at 1.3107,” he notes. “Support is at 1.2844 ahead of 1.2662,” Garry adds.

Despite good news coming from Brussels today dealing with Cyprus bailout: “We maintain our 1m 3m and year-end EURUSD targets at 1.30, 1.28, and 1.20 respectively,” Mr Berry concludes.

Mar 25, 2013

Forex Flash: EUR/USD euphoria over Cyprus deal to be short-lived - RBS

“A deal appears to have been negotiated with Cyprus that will allow its banks to continue to receive liquidity support from the ECB and thus allow the country to remain solvent and in the EUR,” noted FX Trading Strategist at RBS Greg Gibbs, “provided it is ratified by the Cypriot parliament,” the analyst adds.

Forex: EUR/USD around 1.3035/40 on Cyprus

The single currency is back above the key mark of 1.3000 on Monday, after the ‘Troika’ and the Government clinched a last-minute deal on Sunday night....