The final result in the referendum, published by the interior ministry, was 61.3% "No", against 38.7% who voted "Yes".

The euro opened with a 1.2% gap down, but managed to hold the parallel support at 1.0954 edging 80 pips high from the low. The 20Wsma was found at 1.1020 and 100Dsma was found at 1.1040. The weekly resistance is seen at 1.1121, 1.1150, and 1.1280. Bulls lost all the daily moving averages. The 100Dsma at 1.1040 is put to the test today. A daily close below 1.1040 made bulls lose 1.0950 immediately. The real selling emerges below 1.0950 towards fresh lows. The pair has been moving towards lower highs and lower lows in the H1 and H4 chart. All these factors favor bears. We do not expect the Euro summit scheduled for Tuesday to deliver data which can affect the euro. Developments in Greece are the only driving factor during this week. The FOMC meeting minutes are due on Thursday. Until the pair closes below 1.1280, gates are open for 1.0800 initially, 1.0600 and 1.0500 later. The long-term picture favors moving to the sub-level of 1.000.

Intraday resistance is seen at 1.1080, 1.1121, and 1.1140. The intraday momentum oscillators indicate oversold levels favoring mild pullback at the Asian session. European session traders can buy above 1.1125 with targets at 1.1150 and 1.1170. Strong bears can start selling between 1.1200 and 1.1245 sl 1.1280. Fresh selling is available below 1.0950 towards 1.0930 and 1.0900 during a day.