Forex: EUR/USD capped at 1.3316 after Italy election polls

FXstreet.com (Barcelona) - The EUR/USD upside extended above the 1.3300 mark, coming to as high as 1.3316 before easing back to just below the psychological level. US Chicago Fed national activity index is already out, down from 0.25 (revised from 0.02) to -0.32 in January, but investors are more focused on the Italian elections. Exit polls are out.

Italian elections has finished on Monday and recent exits polls show Center-left's Bersani won the 36% to 38% of votes, while Berlusconi center-right took the 29%. Beppe Grillo has 19% and Mario Monti won 9.5%. The final word is yet to come.

“The intraday bias is positive, as the pair is heading for a test of 1.3305 resistance area. A break through the latter will set the focus on 1.3430 high”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to key support at 1.3180 low.

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