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Forex: EUR/USD eyes 1.3100 as risk prevails

FXstreet.com (Barcelona) - Swelling risk appetite is lifting the single currency to the boundaries of the key resistance at 1.3100 on Friday, breaking above the congestion pattern around 1.3060 that prevailed overnight.

“The financial markets remain ambivalent to the ongoing gridlock in Italy – but further evidence of no end to the gridlock increases the risk that the current ambivalence comes to a sudden end, resulting in increased market volatility”, assessed Derek Halpenny, Analyst at BTMU.

EUR/USD is now advancing 0.31% at 1.3193 and a break above 1.3096 (high Apr.18) would target 1.3202 (high Apr.16) en route to 1.3229 (50% of Feb.-Apr. slide).
On the flip side, support levels align at 1.3001 (low Apr.17) followed by 1.2967 (MA21d) and then 1.2963 (low Apr.8).

Forex: AUD/USD with bounce stalled at 1.3050

The AUD/USD was capped at 1.0582 high last week and fell through this week to as low as yesterday’s 1.0270 low. The psychological level at 1.0300 was able to hold the market and the cross rose to 1.0350 area during the European session, where it is stalling against further gains.
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