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25 Mar 2013
Forex: EUR/USD testing fresh 2013 lows
FXstreet.com (Barcelona) - The shared currency is bouncing off 2013 lows around 1.2830 on Monday, as Cyprus woes continue to weight on sentiment.
”We remain confident that the ECB’s OMT programme will help to dampen any broader negative fallout out in the near-term from the hit to large deposit holders in Cyprus and junior and senior bank bond holders. However, the still weak economic growth outlook in the euro-zone will help to dampen upside potential in the near-term”, suggested Currency Analyst Lee Hardman at BTMU.
At the moment, the cross is down 0.89% at 1.2845 with the immediate support at 1.2857 (low Mar.20) ahead of 1.2844 (low Mar.19) and finally 1.2827 (low Nov.22).
On the upside, resistance levels line up at 1.3107 (high Mar.15) followed by 1.3135 (high Mar.8) and then 1.3163 (high Feb.28).
”We remain confident that the ECB’s OMT programme will help to dampen any broader negative fallout out in the near-term from the hit to large deposit holders in Cyprus and junior and senior bank bond holders. However, the still weak economic growth outlook in the euro-zone will help to dampen upside potential in the near-term”, suggested Currency Analyst Lee Hardman at BTMU.
At the moment, the cross is down 0.89% at 1.2845 with the immediate support at 1.2857 (low Mar.20) ahead of 1.2844 (low Mar.19) and finally 1.2827 (low Nov.22).
On the upside, resistance levels line up at 1.3107 (high Mar.15) followed by 1.3135 (high Mar.8) and then 1.3163 (high Feb.28).