Forex: EUR/USD hovering over 1.3100 (Barcelona) - The bloc currency is parked around the key 1.3100 figure on Wednesday, posting gains for the second consecutive session so far and increasing the distance from the psychological support at 1.3000

Against the backdrop of the well-received Italian auction of 5-year and 10-year bonds, although at higher borrowing costs, Currency Analyst Christopher Vecchio at DailyFX commented, “while it's clear that sovereign credit risk is rising again this week so far, what's less clear is what happens to the split Italian government… Based on my own opinion, I believe there's a growing consensus that new elections will have to take place at some point in the next few months”.

As of writing EUR/USD is up 0.33% at 1.3101
Next resistance levels line up at 1.3133 (high Feb.27) followed by 1.3200 (psychological level) and 1.3319 (high Feb.25).
On the flip side, a breakdown of 1.3042 (low Feb.27) would bring 1.3032 (daily cloud base) and finally 1.3019 (low Feb.26).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.