Forex: EUR/USD in 2-year lows

FXstreet.com (Barcelona) - The bloc currency accelerates its downside, recovering ground after bottoming in the 1.2140 region, levels last seen in mid June 2010

Euro sentiment remains worrisome, with Spain and its ailing banking system in centre stage once again. Positive news from both the German and Finnisg parliaments, approving the Spanish bailout earlier on have done nothing to prevent EUR from falling. At the same time, borrowing costs in Spain and Italy were soaring above 7.0% and 6.0% respectively, increasing jitters among investors.

The cross is now losing 1.0% at 1.2157 with next support at 1.2132 then 1.2110 and 1.2105
On the flip side, a break above 1.2257 would bring 1.2282 and 1.2325