Category: Daily Look

EUR/USD: Levels To Watch Into Greek Referendum – Citi



Tomorrow is #Greferendum day: voters in the debt stricken country decide if they approve or reject the creditors’ proposal.

This will have a significant impact on the euro. Here are the levels to watch according to the team at Citi:

Here is their view, courtesy of eFXnews:

We doubt that sufficient progress may be achieved in the next few days to suspend the referendum.

Any negotiation after the referendum is likely to shift to the approval of a third bailout programme, potentially to cover financing needs up to 2016-17.

The NO lead is likely to shrink further, as capital controls become increasingly disruptive, doubts about PM Tsipras negotiating strategy rise and intra-party tensions within Syriza become increasingly apparent.

Greferendum EURUSD levels to watch July 2015 Citi euro dollar technical chart

Technical indicators suggested that EUR/USD may range trade between 1.0955-1.1278, with downside bias.

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