The pair opened in Asia at $1.1382, and initially marked a $1.1382 to $1.1410 range. News late Friday that Greece had agreed a deal in principle saw the euro recoup some of its recent losses and managed to post a session high of $1.1430 before easing back to close at $1.1380. Greek authorities are now to present a list of reform measures by the end of today, the International Monetary Fund (IMF) will then review these measures tomorrow. Euro-dollar came off its pre-Asian high of $1.1410 and retraced lower to trade near $1.1380 by the time Japanese stock markets opened. It extended the lows to $1.1358 on further euro unwinds but staged a small recovery toward the late morning. Euro-dollar got back up to $1.1390 and last traded at $1.1388. Immediate resistance is seen at $1.1430(Friday’s high), while above there $1.1454 marks the 61.8% fibo retracement of its $1.1673 to $1.1098 fall. Support lies at $1.1354, marking the 50% fibo retracement of the $1.1278 to $1.1430 rise, below there lies Friday’s session low of $1.1278.
