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Forex: EUR/USD falls to fresh 6-week low

Following a consolidation phase, the euro came under renewed pressure and resumed the slide against the greenback, having set a fresh 6-week low during the American afternoon.

Weighed by the Italian elections uncertainty, EUR/USD extended losses toward 1.3127, its lowest since Jan 10. At time of writing, the cross is trading at the 1.3130 zone, recording a 0.4% loss on the day, having been as high as 1.3318.

The latest poll on the Italian Parliamentary elections points at a tight race in the lower house vote as well as in the Senate.

On the downside the 100-hour SMA around 1.3115 stands as immediate and major support, followed by 1.3100 (psychological level). On the upside, resistances are now seen at 1.3200 and 1.3230.

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