EUR/USD has now balanced out in the upper-1.1100s after yesterday's sharp bounce back from multi-week lows in the 1.0950 range.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, contended the pair "has sold off to and seen sharp recuperation from the base of its cloud at 1.0962. It has filled the hole it exited throughout the weekend and outlined a genuinely beast key day inversion. We have beginning resistance at 1.1290/1.1325 or more here untruths thick resistance at 1.1440/1.1534, the late highs. Intraday outlines stay negative and for the time being we will reattempt little shorts".
Likewise, Senior Analyst at Danske Bank Christin Tuxen said "despite everything we think it is too soon to call an 'all unmistakable' regarding place of refuge streams as we anticipate that vulnerability will stay raised amid the week paving the way to the Greek weekend choice. This ought to suggest a recharged float lower in EUR/USD and in EUR/CHF, which could be quickened if first surveys show Greeks inclining towards a "no" to the submission proposition".
WATCH ENTRY SPOT 1.11823
EXIT SPOT 1.11855
STOP LOSS 1.12100
INDICATOR SELL
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