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12 Mar 2013
Forex: EUR/USD pullback holding at 1.3020
The EUR/USD is being pulled back after the rise to 1.3074 high ahead of the NY opening. The market eased to 1.3020, so far, and is currently holding there in order to avoid a slide down to the 1.3000 psychological level again.
German finance minister Schaeuble said Bundestag's lower house could decide on Cyprus aid next week. Buba's Weidmann said that inflation was under control, which added to “the belief that further monetary easing could yet be on the way from the ECB”, according to Forexlive.com analyst Mike Paterson.
“The pair has a static resistance level around 1.3070, so once above, there’s room for further upside, towards the 1.3110 area daily descendant trend line coming from 1.3710”, wrote FXstreet.com analyst Valeria Bednarik, pointing to supports at 1.3020, 1.2980 and 1.2950.
German finance minister Schaeuble said Bundestag's lower house could decide on Cyprus aid next week. Buba's Weidmann said that inflation was under control, which added to “the belief that further monetary easing could yet be on the way from the ECB”, according to Forexlive.com analyst Mike Paterson.
“The pair has a static resistance level around 1.3070, so once above, there’s room for further upside, towards the 1.3110 area daily descendant trend line coming from 1.3710”, wrote FXstreet.com analyst Valeria Bednarik, pointing to supports at 1.3020, 1.2980 and 1.2950.