Greece became yesterday the first developed economy to default on a loan with the IMF, but the EUR/USD was unusually calm. It is likely that most market participants prefer to stay on the sidelines amid all the uncertainty, speculation and rumors. Aside from the fair number of econ data that will be released today, we will also get US employment numbers tomorrow (due to Friday being a public holiday in the US), and the market tends to calm down pre-NFP.
In EUR/USD, imminent support now eyed at 1.1110, followed by 1.1050. The key short-term support level remains 1.0950, Monday's low. To the topside, decent selling interest appeared above 1.1250 and 1.1275 is the key level to watch. USD/JPY bounced off the 122.00 level and closed the day above. Key support seen at 121.50/60, while the key levels to the topside are 123.18 and 123.80 (Friday's close). USD/JPY is the only major pair that hasn't filled the weekend gap yet.
IC Markets is revolutionizing on-line forex trading; on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.