Forex: EUR/USD eases from 1.3000 after ECB rejection of bailout changes

FXstreet.com (Barcelona) - The EUR/USD is becoming more volatile as the US session unfolds and time gets shorter for Cyprus to reach a deal with the Eurozone. After news that the Cypriot ruling party said they are confident that the country will achieve a bailout deal within EU framework over the next hours, MNI has reported that the ECB rejected the changes made by the Cypriot Parliament Committee. The EUR/USD is taking profits from the 1.3000 mark after the latest headlines.

Also from the Eurozone is the meeting between Bersani and the Italian President where he should be asked to form a government. Bersani says he will not do it with Berlusconi and Grillo has rejected any coalition with any of the main parties. Dutch Finmin Dijsselbloem rejected the idea that the Eurogroup is considering a Cyprus exit scenario.

“The structure of the pattern implies that the price may grow up to reach the level of 1.3000 and then fall down towards the level of 1.2820”, wrote Roboforex.com analyst Igor Sayadov.