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Follow through was seen into today\u2019s European trading session with the euro and other higher yielding currencies receiving a bid. An additional Greek vote<\/a> on austerity measures will come today though this should be more of pomp and circumstance when compared to yesterday\u2019s drama. Technicals hint at a period of consolidation versus the dollar but with euro strength brings opportunities for traders to enter into the EUR\/CHF at better levels.<\/p>\n <\/span>Today\u2019s Economic Data Releases<\/p>\n EUR \u2013 CPI Flash Estimate y\/y \u2013 09:00 GMT USD \u2013 Unemployment Claims \u2013 12:30 GMT
\nExpectations: 2.8%. Previous: 2.7%.
\nYesterday and today Trichet spoke of the need for \u201cstrong vigilance\u201d, another sign of the ECB\u2019s intention to lift interest rates at its next meeting. Euro zone inflation is expected to remain at higher levels for now which could be supportive of further gains. This may offer traders an opportunity to enter into the EUR\/CHF at better levels as the pair comes off of its all-time low. Resistance is found at 1.2150.<\/p>\n
\nExpectations: 419K. Previous: 429K.
\nWeak US unemployment numbers would likely support dollar bids which would come just in time as the EUR\/USD is reaching the top of the current triangular consolidation pattern on the daily chart at 1.4540. A pause here would likely keep the pair range bound with a negative technical bias while the market awaits further developments in the Greek story.<\/p>\n