FXstreet.com (Barcelona) - The single currency is trading on the back foot on Monday, against a backdrop of unconfirmed rumours about the outcome of the parliamentary elections in Italy. While some post-elections polls are biased towards a victory of the centre-left leader Pier Luigi Bersani, other sources would be signalling good performances of both Beppe Grillo and yes, former PM Silvio Berlusconi!

In the meantime, the Italian stock exchange reverted initial gains and is now trading in the red territory.

At the moment, the cross is up 0.10% at 1.3232 facing the next hurdle at 1.3330 (MA10d) ahead of 1.3415 (MA21d) and finally 1.3456 (high Feb.14).
On the flip side, a breach of 1.3146 (low Feb.22) would open the door to 1.3123 (,A100d) and then 1.3039 (low Jan.10).