Forex: EUR/USD collapsing to 2013 lows after Cypriot Fin Min resignation

FXstreet.com (San Francisco) - the Euro is collapsing across the board on the back of news that said the Cypriot Finance Minister has resigned. News from Cyprus are erratics and sources are saying that President Anastasiades has rejected Sarris' resignation.

However, the EUR/USD has fallen hard from its 1.2950 confort zone to break down 1.2915, 1.2900 zone and reach current lowest level since november 22nd at 1.2850.

With 0.67% declines from opening price, the pair is trading in a slightly bearish tren according to the FXstreet.com Forex Studies. MACD, CCI and Momentum indicators are bearish while the Stochastic is neutral in the 1-hour chart.