Forex: EUR/USD pressing down, 1.2987

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Forex: EUR/USD pressing down, 1.2987

FITITOL--> FXstreet.com (Barcelona) - The EUR/USD is resuming its downside after being capped at 1.3065 and has already breached below 1.3000 psychological level.

Forexlive analyst Jamie Coleman points to the unusual market reaction toward Greece concerns, as no particular contagion in the debt market is being seen. Lower yields on Italian debt, unchanged for Spain, and little higher in Greece.

As the 1.3000 handle is threatened and breached, Windsor Brokers analyst Slobodan Drvenica wrote: “This would signal an end of brief corrective action, as hourly outlook is losing momentum, with near-term risk seen on revisiting recent low and Fibonacci support at 1.2953”, and pointed to 1.3060 (20-day EMA) and 1.3100 as resistance.