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

For lots  more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting  Forex Crunch.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.