The European single currency is strengthening against its American counterpart as investors remain optimistic ahead of the Greek austerity vote later today.
If Parliament fails to pass the proposed austerity measures, Greece will go bankrupt in two weeks.
Frommer's Greece (Frommer's Complete Guides)
From a technical point of view, “EUR/USD nice looking run higher on the day has come to a stop on the day just below the 50-day MA at 1.4404. The mkt holds up well at this point, so technically no reason to change the moderately bullish view right now,” says the FXMarketAlerts Team. “It's a waiting game now until Wed to see if a breakout at 1.4404/41 can occur.”
At the time of writing, EURUSD has opened the Asian trade in the 1.4370 price zone. To the upside, according to the FXMarketAlerts Team, resistance levels lie at 1.4397 (hourly high), 1.4400 (figure) and 1.4404 (50-day MA). To the downside, support levels lie at 1.4330/25 (recent tops), 1.4293 (break level) and 1.4250/35 (intraday level).
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