The single European currency remains pressured owing to Greek crisis. A loan repayment of 450 million Euro is due this week, and it's not quite clear if the country will be able to make it. Many experts regard Greece's current state as hopeless: the country might be declared in default, all the more so as another loan repayment of 1.4 billion Euro is due on 14th April. If the situation runs out of control, the country's financial sector will be seriously damaged with lack of bank liquidity and a huge outflow of bank deposits. The only rescue would be asking ECB to provide financial aid to prevent default. However, the Bank of England said in a recent statement that banks must be ready for the worse as Greece might leave the eurozone unless the country manages to reach new financial aid agreements.
Support and resistance
The nearest resistance level is at 1.0864 (2/8 Murray). The nearest support level is at 1.0803 (1/8 Murray).
Go short after the level of 1.0803 is broken and place protective orders near a level of 1.0835 with a target at 1.0652.