Daria Bulanova , Analyst, Global Markets (Finam) On Wednesday, March 27, the euro has beenfirming against the greenback after the opening. Investors so far see noreasons for optimism. Although the acute phase of the Cyprus debt crisis isover, the government had to make huge sacrificed in order to rescue the countryfrom uncontrollable default. It’s plain to see that the Cypriot banking systemis looking at an extensive period of recovery before it gets back to normal. Despitethe fact that Cyprus is a tiny economy compared to other EU member states andCyprus troubles have no direct impact on the currency union’s overall standing,taxing large bank deposits has set a certain precedent. To remind, Euro Groupchief Jeroen Dejsselbloem recently noted that resolving debt problems in such amanner could turn into a new template for other Eurozone countries. Cypriot banks are set to reopen on Thursdayrather than Tuesday. Cypriot banks have been shuttered for a week and a halfalready. Most likely long lines will appear at banks, but deposit holders willhardly manage to withdraw all their money all at once. The media reported thatCyprus is gong to announce plans today to keep tabs on money transfers in orderto avert heavy cash outflow from the country. For the record, last week theCypriot parliament vested national central banker Panicos Demetriades withbroader authority, including the right to limit daily cash withdrawals. Several macro indicators, to which theEUR/USD pair is sensitive, are due out today, including Germany’s GfK consumersentiment (7:00 GMT) and also the Eurozone’s Business Climate Index (10:00GMT). In terms of technical indicators, theEUR/USD pair continues to trade lower. Over the past two days the pair has beentesting the support level (1.283), after which, if breached, the 1.274 markcould become a new target. Source: MetaTrader Finam Ltd., 4-Hour Chart