Forex: EUR/USD flat around 1.3360/65
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EUR/USD
FXstreet.com (Barcelona) - The shared currency is orbiting around 1.3350/60 on Monday, as markets remain unbiased ahead of Chief Bernanke's speech due later.
After the recent decision by the ECB to leave its monetary policy unchanged, Chief Currency Strategist Dean Popplewell at OANDA commented, "&there was no indication from the ECB that it might resort to slashing rates in the near future. In doing so, the ECB is sending a strong message to the markets that for the near future at least, it is likely to make do with unconventional monetary steps as it tries to help along the Eurozone economy".
The cross is now advancing 0.04% at 1.3368
Next barrier lies at 1.3487 (2012 high Feb.24) ahead of 1.3491 (50% of 2011-2012 decline) en route to 1.3550 (high Dec.2 2011).
On the opposite side, a drop beyond 1.3336 (low Jan.14) would target 1.3249 (low Jan.11) and then 1.3192 (MA21d).
After the recent decision by the ECB to leave its monetary policy unchanged, Chief Currency Strategist Dean Popplewell at OANDA commented, "&there was no indication from the ECB that it might resort to slashing rates in the near future. In doing so, the ECB is sending a strong message to the markets that for the near future at least, it is likely to make do with unconventional monetary steps as it tries to help along the Eurozone economy".
The cross is now advancing 0.04% at 1.3368
Next barrier lies at 1.3487 (2012 high Feb.24) ahead of 1.3491 (50% of 2011-2012 decline) en route to 1.3550 (high Dec.2 2011).
On the opposite side, a drop beyond 1.3336 (low Jan.14) would target 1.3249 (low Jan.11) and then 1.3192 (MA21d).
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