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EUR/USD trades around 1.11 amid SNB intervention – latest

After a huge Sunday gap and lows of 1.0953, EUR/USD has been making its way back up in the European session. After it shattered the 1.1050 level, the pair continued higher and made it to 1.1123 before slipping back to 1.11.

While it hasn’t closed the gap, the pair is trading on higher ground. Can it continue even higher? Here are the latest developments.

Other developments:

  • The Swiss National Bank said it has intervened in currency markets and that it doesn’t know what will happen with Greece. Thomas Jordan already said that the SNB intervenes from time to time after he shockingly removed the cap in January, aka SNBomb.
  • Stock market reaction is different: indices are still  well below their values on Friday.
  • UK PM Cameron says that it is hard to see Greece in the euro-zone if Greece votes No.
  • So far, no Greek leader stood up to support the Yes campaign.
  • Banks in Greece are closed, and the banks allow  withdrawals of only €60 per day from local bank accounts.
  • French president Hollande says that there is still room for a deal and promises that the French economy is safe.
  • He also said that the referendum is related to euro-zone membership.
  • The letter from Greek PM Alexis Tsipras for leaders to reconsider extending the bailout has been leaked.

Greek crisis – all the updates in one place

Here is how it looks on the charts:

Euro dollar June 29 2015 higher on SNB intervention diplomacy

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.