EUR/USD to open slightly lower, Syriza wins

By FXStreet FXStreet (Buenos Aires) – Greece headed to the polls this Sunday, after former PM Alexis Tsipras resigned after arranging a third bailout for the country, pretty much against all the Syriza party anti-austerity platform. The initial official projections suggest Syriza leads with 35.5% whilst the New Democracy, lead by Evangelos Meimarkakis, has around 28% of the total, followed by Golden Down with 7.1%. Current Syriza coalition’s party, ANEL is at 3.7%, pointing for a no-change in the government, with a Syriza-ANEL coalition securing around 155 seats out of the 300 total of the Greek Parliament.

The news should have had a positive effect on the common currency, as a Tsipras victory guarantees the continuation of the latest bailout deal, whit no default of Grexit to worried about. Nevertheless, the dollar’s late Friday’s momentum seems poised to extend early Asian opening, as early interbank trading shows that the EUR/USD pair is down to 1.1275.

The pair rose up to 1.1460 on Friday, following FED’s decision to maintain its economic policy unchanged, but the dollar recovered ground before Wall Street’s closing bell, ending the day with solid gains against most of its rivals, exception made by the AUD and the NZD. Technically, …read more

Source:: FX Street