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22 Mar 2013
Forex: EUR/USD falls below 1.29, Cyprus fails to get Russian aid
FXstreet.com (Barcelona) - The Euro has fallen from its daily high at 1.2934 to find a new session low in Asia at 1.288, following the news that Cyprus failed to get the financial support from Russia, Cyprus finance minister Mr. Sarris said.
According to Fan Yang, technical analyst at FXTimes, and contributor at FXstreet.com: "At this point, a break above 1.2995-1.30 would form a inverse head and shoulders pattern in the 1H time-frame, and neutralize th bearish outlook in the near-term. A hold below 1.29 would maintain the bearish outlook."
According to Fan Yang, technical analyst at FXTimes, and contributor at FXstreet.com: "At this point, a break above 1.2995-1.30 would form a inverse head and shoulders pattern in the 1H time-frame, and neutralize th bearish outlook in the near-term. A hold below 1.29 would maintain the bearish outlook."