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Forex: EUR/USD back below 1.3250

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).

Forex: EUR/USD falls to 124.10 on Berlusconi possible come back

The Euro is trading under pressure in the last few minutes following news from Italy who say center-right coalition is leading polls to Senate with 34%. The EUR/JPY has fallen around 100 pips from 125.10 to test 124.10 in its way to 124.00.
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Forex: USD/CHF retracing losses on the US session

The USD/CHF is bouncing back from the European morning losses to as low as 0.9232 as the pair already trades at 0.9286. Still, the market is lower on the day, and below the 0.9300 surrounding area that was holding the USD/CHF since Thursday. The market has been finding resistance to the upside around 0.9325.
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