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EUR/USD: forecast for June 20-26

Kira Iukhtenko

We’ve been watching the Greek drama closely for the past couple of weeks, but now it seems to be close to an end. It has become evident that no one wants Greece to exit the currency block. European ministers will continue to support the country with a third bailout program until the next crisis arises. Market focus is currently turning back to the monetary policy divergence between the Fed and the ECB. This factor will pressure the EUR/USD pair in the coming months.

EUR/USD fell by 2.5% over the past week, approaching the 7-week low. Next support lies at 1.0820. Break below would open the way for a decline to 1.0730/00 and 1.0650. Strong resistance– 1.0900/10 and 1.1050.

Euro zone’s economic calendar for the new week is rather light. Pay attention to the June PMI indices on Friday. 

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