The EUR/USD is steady after bouncing off earlier lows on optimism a deal might be reached for Greece, says ASB Head of FX Institutional Sales New Zealand Tim Kelleher. "There is a U.S. holiday today and a Japanese holiday Friday so I'm not expecting the end of the week to arrive with any great gusto, particularly as we won't have any European decision until Monday." There might be a bit of a relief rally if a deal is reached for Greece to get its next tranche of aid, "but it's going to be a pretty hard sell given that Germany seems to be quite adamant that some of the stuff isn't going to go through." The pair is at 1.2829. Kelleher puts initial support at 1.2770, with resistance around 1.2850 to 1.2875.
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