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22 Apr 2013
Forex: EUR/USD above 1.3050 after Napolitano reelected
FXstreet.com (Barcelona) - EUR/USD is last at 1.3069, gapping up to recent session highs at 1.3079, from previous weekly close Friday around 1.3050, following IMF meetings, being specially sharp the gains against Yen, with EUR/JPY breaking above the 130 handle from Friday close at 129.85, last at 130.38. The pair is up +0.14% for the week, with a soft economic agenda ahead until later on US existing home sales at 12:30 GMT.
Another news coming from the weekend is Italian president Napolitano reelection. As reported by the Independent UK: "After the weeks of stalemate, Napolitano can formally begin one of the head of state's most important tasks once he takes a new oath of office. He must figure out who has the best prospects of putting together a new government, with enough support to successfully work with Parliament and survive a mandatory vote of confidence."
Immediate resistance to the upside for EUR/USD shows at recent session highs 1.3079, followed by Thursday's high at 1.3097, and Friday's highs at 1.3128. To the downside, closest support lies at Friday's lows 1.3046, followed by Wednesday's lows at 1.3000, and March 08 lows at 1.2955.
Another news coming from the weekend is Italian president Napolitano reelection. As reported by the Independent UK: "After the weeks of stalemate, Napolitano can formally begin one of the head of state's most important tasks once he takes a new oath of office. He must figure out who has the best prospects of putting together a new government, with enough support to successfully work with Parliament and survive a mandatory vote of confidence."
Immediate resistance to the upside for EUR/USD shows at recent session highs 1.3079, followed by Thursday's high at 1.3097, and Friday's highs at 1.3128. To the downside, closest support lies at Friday's lows 1.3046, followed by Wednesday's lows at 1.3000, and March 08 lows at 1.2955.