The EURUSD moved to and through the 1.1876 level which was the low going back to 2010 during the first Greek banking crisis. With increasing Greek uncertainty as a result of the upcoming elections, low inflation/deflation and low growth the EURUSD is once again at this key level. The level did find support buyers on the first look. Will that hold going forward or is the weekend gap (Friday to the 5 PM et opening today) be the attraction going forward?
The GBPUSD also opened weaker in trading today but recovered. There is resistance at the 1.52318-1.52699 with 1.5245 in between now for the pair.
Finally, in Australia, trade data will be releases later today but from a technical perspective the 2010 lows was broken but selling could not be sustained. The price has rallied back toward what has been resistance at the 0.8103-08 area. Stay below and the sellers remain in control. Move above and there should be some further corrective potential for the pair.
