Mario Monti, Prime Minister of Italy, says there are psychological preconditions for a possible breakup of the European currency union. The eurozone crisis has resulted in confrontation between the Southern and Northern members of the eurozone. Therefore, further critical statement in mass media may push the eurozone closer towards disintegration.
Mario Monti urged his European partners to take more decisive steps towards overcoming the continued crisis. He says all the eurozone countries practice austerity while the authorities should explain the necessity of such steps to people while stopping the criticism of other nations. This will provide valuable support to the common Euro currency.
Forex.
According to , the common Euro currency keeps strengthening against the US Dollar. The closest major levels of resistance are 1,2488, 1,2541 and 1,2627. The closest levels of support are the defensive mF pivot located at 1,2221 and the bottom of the MF sloping channel.
If the price breaks and consolidates below these levels, the price will see a trend reversal.
