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Forex: EUR/USD hits 10-day high above 1.3100

FXstreet.com (Córdoba) - Following a phase of consolidation, the euro managed to gather momentum at the beginning of the NY session and broke above the 1.3100 mark against the dollar, stretching to its highest level in 10 days at 1.3116.

At time of writing, EUR/USD is trading around 1.3110, where it is 0.5% above its opening price, having climbed over 80 pips from daily lows, supported by the formation of a government in Italy and better risk sentiment.

On the upside, if EUR/USD manages to extend gains, next resistances could be found at 1.3130 (high Apr 19) and 1.3160 (100-day SMA). On the downside immediate supports are seen at 1.3075 and 1.3050 (20-hour SMA).

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