Forex: EUR/USD back to 1.2850 after US Case-Shiller

FXstreet.com (Barcelona) - The bloc currency eased some pips from the area around 1.2860 after the S&P/Case-Shiller index advanced 8.1% over the last twelve months in January, surpassing the median and December’s result. The knee-jerk reaction was short-lived however, as the pair pushed back to the comfort zone around 1.2860/65

The euro continues to gyrate around rumours emanating from Cyprus, although markets seem to be pretty quiet ahead of Thursday, key day when the Cypriot banks will re-open their doors.

At the moment, the cross is up 0.12% at 1.2864 with the next hurdle at 1.2950 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
On the flip side, a breach of 1.2832 (low Mar.25) would clear the way to 1.2730 (low Nov.19) en route to 1.2700 (161.8% of Feb1 2011).