EUR/USD continues digging lower, taking a few more pips each time and getting closer to the 1.2805 support line. The pair is now trading at levels last seen in November 2012. This is a new low for Euro/dollar in 2013.
The crisis in Cyprus weighs heavily on the common currency. The dollar is not that strong across the board.
Banks in Cyprus are expected to open tomorrow. Details about the haircut for depositors in the biggest banks are still awaited.
EUR/USD traded under the 1.2880 line in the past two days or so, reaching an initial low of 1.2830 and then 1.2828. And now, at the wake of the European session, the pair reached a new low of 1.2817 before rebounding.
Volume is expected to wind down towards the Easter holiday.
Further levels below: 1.2750, 1.2690 and 1.2625. On the topside, 1.2960 and 1.30 follow after 1.2880. For more, see the euro to dollar forecast.
