Forex: EUR/USD testing the 200-day MA around 1.2875

FXstreet.com (Barcelona) - The single currency keeps the negative mood after the situation in Cyprus became more instable on Tuesday. While protests are growing bigger outside the Parliament, it’s worth noting that Cyprus’s finance minister M.Sarris has stepped down although his resignation still need to be approved by the Government. In the same tone, the Cypriot ruling party would abstain from the parliamentary vote, adding fuel to the fire.

At the moment, the cross is losing 0.60% at 1.2879 with the next support at 1.2855 (low Mar.19) ahead of 1.2827 (low Nov.22) and then 1.2730 (low Nov.19).
On the flip side, a breakout of 1.2995 (high Mar.18) would aim for 1.3009 (MA10d) and then 1.3074 (MA21d).