EUR/USD in limbo as Euro summit approaches

EUR/USD's outlook tends to remain moderately bearish at the moment, despite attempts of the pair's to rebound yesterday. The Euro is under intense pressure amid the crisis in Greece, as any negative impetus is likely to send the pair substantially downwards. The immediate resistance is represented by the weekly PP at 1.1114, followed by dense supply at 1.1156. Meanwhile, the closest support is located at the current trading level of 1.1035 (100-day SMA), but losses can be allowed down to recent lows at 1.0954. 

The share of SWFX long open trades has been unchanged in the past 24 hours, as it remains at 49%.