Forex: EUR/USD tumbles after US data and Fed's Bernanke on QE (Barcelona) - The EUR/USD is tumbling as Fed's Bernanke speaks to the Senate Banking Committee, defending QE until substantial labor market gains. Also on the back of a stronger greenback are improving housing, manufacturing and consumer confidence figures.

Conference Board's consumer confidence jumped from 58.6 yo 69.6 in February, beating consensus of 61.0.

The housing index of New Home Sales rose 15.6% from 0.378M (revised from 0.369M) to 0.437M in January, surprising consensus that was pointing to 0.381M.

Richmond Fed Manufacturing Index rose to positive ground in February, from -12 to 6, beating consensus of -4.

Having spiked to 1.3121 high, the EUR/USD is already down to 1.3063. independent analyst Valeria Bednarik points to support at 1.2950, 1.2990 and 1.3035. On the downside, supports might be found at 1.3185, 1.3150 and 1.3120.