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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.

Napolitano re-elected Italian President

After the back and forth from the last few days, Italian politicians finally came to realize that amid the constant failures to elect a new President, the most sensible solution would be to re-elect the current one.
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Forex: USD/JPY edges higher on spill-over strength from last Friday

The USD/JPY is edging higher early in the Asia session, gapping up 30 pips to start the week at 99.80. The strength seems to be a spill over effect from last Friday after market participants learned Japan was not singled at the G20 conference for recent aggressive QE policies. The economic calendar is light in the coming session, with no major reports due out of Japan or the US
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