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22 Mar 2013
Forex: EUR/USD glued to 1.2900, IFO eyed
FXstreet.com (Barcelona) - The bloc currency remained indifferent after the French Business Climate came in unchanged at 90 during March, although lower that estimates at 91
Next on tap will be the German IFO indicator, where Business Climate is expected to improve to 107.6 from 107.4 in March.
Regarding Cyprus, Russia closed the door to further negotiations while the parliament in Nicosia is voting on a new legislation to restructure the banking sector. It is worth noting that the ECB will provide liquidity until Monday 25th.
At the moment, EUR/USD is advancing 0.09% at 1.2907
Next hurdle lines up at 1.2966 (MA10d) ahead of 1.2979 (high Mar.20) and then 1.3017 (MA21d).
On the downside, a breach of 1.2879 (MA200d) would clear the way to 1.2844 (low Mar.19) en route to 1.2827 (low Nov.22).
Next on tap will be the German IFO indicator, where Business Climate is expected to improve to 107.6 from 107.4 in March.
Regarding Cyprus, Russia closed the door to further negotiations while the parliament in Nicosia is voting on a new legislation to restructure the banking sector. It is worth noting that the ECB will provide liquidity until Monday 25th.
At the moment, EUR/USD is advancing 0.09% at 1.2907
Next hurdle lines up at 1.2966 (MA10d) ahead of 1.2979 (high Mar.20) and then 1.3017 (MA21d).
On the downside, a breach of 1.2879 (MA200d) would clear the way to 1.2844 (low Mar.19) en route to 1.2827 (low Nov.22).