The euro retreated below $1.40 and is now consolidating at $1.36. Failure of medium-term support would test the primary level at $1.32. In the long-term, breach of $1.32 (if the Greeks vote “No”) would offer a target of $1.22*. 63-Day Twiggs Momentum holding below the zero line suggests continuation of the primary down-trend.
* Target calculation: 1.32 – (1.42 – 1.32 ) = 1.22
63-Day Twiggs Momentum similarly suggests continuation of the primary down-trend for the Pound. Breach of primary support at $1.53 would confirm, offering a target of $1.46*.
* Target calculation: 1.53 – ( 1.60 – 1.53 ) = 1.46