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FXstreet.com (Barcelona) - The single currency is intensifying its bearishness on Wednesday, dipping to fresh yearly lows below 1.2820
In the data front, the French GDP figures for the fourth quarter were confirmed at -0.3% QoQ ahead of Spanish Retail Sales and Current Account.
“The bailout deal for Cyprus and the concerns about what implications the deal could have in the future for depositors in other euro countries continue to weigh on the euro”, comments Morten Helt, Analyst at Danske Bank.
At the moment, the cross is losing 0.24% at 1.2825 and a drop beyond 1.2730 (low Nov.19) would expose 1.2662 (low Nov.13). On the upside, the immediate hurdle sits at 1.2927 (MA10d) followed by 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
