Forex: EUR/USD falls from 1.2979 after Bernanke

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Forex: EUR/USD falls from 1.2979 after Bernanke

FITITOL--> FXstreet.com (Barcelona) - The EUR/USD kept pushing higher to peak at 1.2979, rising by 50 pips on the day. However, Fed’s Bernanke speech triggered the end of the upside, in a common “buy rumor, sell fact” mode, and the pair jittered down, quoting now at 1.2960.

The US still has the monthly budget statement and Fed Minneapolis’s Kocherlakota speech ahead in the American session.

“As long as initial resistance and psychological barrier at 1.3000 stays intact, extension lower and test of downside targets at 1.2875/57 remains favored”, wrote Windsor Brokers analyst Slobodan Drvenica, pointing to resistance at 1.3060.