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Forex: EUR/USD hovering over 1.2850

FXstreet.com (Barcelona) - The bloc currency remains stuck around 1.2850 after dropping to fresh 2013 lows in the vicinity of 1.2830

Renewed jitters on Cyprus and fears of contagion to other indebted sovereigns in the bloc periphery have been weighting on EUR after the increased vulnerability seen in Cypriot deposits.

At the moment, the cross is down 0.83% at 1.2854 with the next support at 1.2829 (low Mar.22) ahead of 1.2730 (low Nov.19) and finally 1.2700 (161.8% of Feb.1-2011).
On the upside, resistance levels line up at 1.2950 (MA200h) ahead of 1.3107 (high Mar.15) and then 1.3135 (high Mar.8).

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