Even if not as early as September, American interest rates will rise fairly soon anyway, putting downward pressure on EUR/USD, and the market knows it. Resistance is flattening and the price may be contained below $1.14. IMF and Eurozone support for the Greek economy will continue along its thorny ride for several more years. Resolution of the current crisis will but be a postponement of a real solution for another time. I can't see the Support Line holding, and anticipate the graph swinging to the bottom of the yellow box.
Comments
IvanLabrie
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Interesting take, and agreed with your range, good use of the line chart.