The single currency is fluctuating between $1.4230 and $1.4330 versus the greenback ahead of the vote on austerity measures in Greece.

Currency strategists at Barclays Bank note that investors seem to be very nervous. The specialists recommend selling the pair EUR/USD on its advances. Analysts at JPMorgan Chase are also firmly bearish on euro.

Analysts at Rabobank think that the chances that the single currency will gain more upward momentum ahead of this week’s main event are slim. In their view, in the near term EUR/USD will find resistance at the top of the daily Ichimoku Cloud at $1.4397.

Strategists at UBS claim that although euro jumped to the levels in the $1.4300 zone, the general outlook remains bearish. According to the specialists, the pair is on its way down to support at $1.4103 and $1.4074. The bank places resistance at $1.4358.

Analysts at Bank of New York Mellon claim that if all goes well on Wednesday, EUR/USD will bounce, but only temporarily as the fundamental problems of Greece and the euro area still won’t be solved. The economists believe that earlier euro was supported by the external factors such as reserve diversification by the central banks, so the end of QE2 in the United States may slow down this process putting euro under negative pressure.

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