Weaker US figures helped to keep EUR/USD above the 100-day MA in the 1.1040 area. Resistance is at 1.1136 and 1.1200. According to the opinion polls, most Greeks prepare to say ‘No’ to the austerity measures on the referendum this Sunday (about 40% compared to 37% for ‘Yes’). Note, though that since Greek banks were closed for emergency holidays the number of those who supports the position of Alexis Tsipras’ government has declined (from 57% for ‘No’ vote). The ECB President Mario Draghi may offer clues on how Greece affects QE as he speaks at 15:10 GMT on Thursday.
GBP/USD has support at 1.5550. Resistance is at 1.5685 and 1.5735. The UK will release services PMI at 08:30 GMT. USD/JPY recoiled down from June resistance line in the 123.70 area and will likely return to 122.50.
AUD/USD once again found support just below 0.7600. Resistance is at 0.7650 and 0.7700. Australia will release retail sales at 01:30 GMT (forecast +0.5% vs. previous reading of 0.0%).
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EUR/USD jostled on Monday, settling near 1.0720 after churning in a tight but lopsided range as markets settled in for the wait US Fed outing. Investors broadly expect US rates to hold steady this week, but traders will look for an uptick in Fed guidance for when rate cuts could be coming.
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Gold fluctuates in a relatively tight channel above $2,330 on Monday. The benchmark 10-year US Treasury bond yield corrects lower and helps XAU/USD limit its losses ahead of this week's key Fed policy meeting.
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