AUD/USD: 0.7740EUR/USD: 1.1200The inability to come to any resolution on the Greek/EU impasse has meant the currency markets have pretty much gone on hold, with book squaring and unloading of risk positions ahead of the weekend, being the main theme. This looks likely to continue today given that further negotiations are now scheduled for the weekend, meaning that it could be a wild ride at the Monday opening in NZ/Australia. Tuesday is the deadline by which Greece needs to repay Eur 1.6 billion to the IMF and time is rapidly running out, with a happy ending looking increasingly unlikely.
The Aud has traded a 0.7696/0.7752 range but with little real interest while the Greek issue lingers.
More of the same seems likely today, and in the absence of any data 0.7720/70 could well cover it.
A more in-depth outlook will be done on Monday, once we see some kind of resolution over Greece.
Jim LanglandsFX Charts www.fxchartsdaily.com
