Tomorrow is #Greferendum day: voters in the debt stricken country decide if they approve or reject the creditors’ proposal.
This will have a significant impact on the euro. Here are the levels to watch according to the team at Citi:
Here is their view, courtesy of eFXnews:
“We doubt that sufficient progress may be achieved in the next few days to suspend the referendum.
Any negotiation after the referendum is likely to shift to the approval of a third bailout programme, potentially to cover financing needs up to 2016-17.
The NO lead is likely to shrink further, as capital controls become increasingly disruptive, doubts about PM Tsipras negotiating strategy rise and intra-party tensions within Syriza become increasingly apparent.
Technical indicators suggested that EUR/USD may range trade between 1.0955-1.1278, with downside bias.
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