FX market still in holding pattern ahead of Greek decision

Most players are sidelined for now as they fear wild gaps after any Greek announcements. The general sentiment has improved with Greece seemingly having eased its negotiation position and the liklihood of a deal has improved.

I prefer to play the non-EUR crosses at the moment and I like the long AUD/CAD side for now whilst its above .9400.

Elsewhere, look for some range trading opportunities in the cable with the bulls still in charge but the market looking modestly overbought near 1.5900.

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