Euro notes
Euro ends week down across the board as Greek deal talks extend to weekend REUTERS

The euro snapped a three-week rising streak against the dollar and got closer to an eight-year low against the pound in the last week of June as Greece-related talks were extended to the weekend.

The deadline for Greece to pay back an IMF loan of €1.6bn is 30 June. Greece's Prime Minister Alexis Tsipras told European Union Leaders in Brussels on Thursday (25 June) that any deal with creditors must be viable and have adequate funding.

The EUR/USD traded steady near 1.1200 on Friday but was down 1.3% on the week, reversing the 3.3% gain over the previous three weeks. Charts suggest that the pair has supports at 1.1050 (14-day EMA) and then 1.0818 (May low).

The next level in focus will be 1.0462, the 12-year low hit in March, although 1.0659 and 1.0520 will have some importance on the way.

On the way up, 1.1411 and 1.1437 are the two levels to watch ahead of 1.1468, beyond which it will be its highest since February.

Against the pound, the euro has been weakening over the past three weeks, and with this week's losses, the single currency is down 2.7% during the period. The cross is not far away from 0.7014, which was its lowest since late 2007. After that 0.6750 will be the level to look at.

Against the yen, the euro fell to a three-week low of 137.80 from the previous close of 138.54.

Down south, the EUR/JPY aims 137.0 as the next support and then 135.7, endorsed by the 50-day simple moving average. One should look at 133 before deciding if the broad trend has turned downward. On the upside, 140.0 and 141.0 are the immediate levels to watch out for.

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