Euro filled the weekend gap and some, after upbeat tones from many officials and the perception that Greek people will vote "Yes" on Sunday's referendum. Part of the flows might also have been unwinding of the currency hedges in line with selling in the stock market.

The pair is back to the pre-weekend range which traded between 1.1150 and 1.1225. The momentum is on the bullish side at the moment and should the pair break above the range, the next resistance may be found in 1.1250 - 1.1260 band (Daily Resistance 2, 1.1250 level).

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