* Greek debt crisis continues to hang over the euro…
* Moody’s says the UK and US debt ratings are secure,  for now…
* Swiss National Bank lets the franc appreciate…
* Lots of data on tap in the US this week…

And Now… Today’s Analysis!

Greek debt is the euro’s Sword of Damocles….

The EURUSD attempted to push higher yesterday, topped at 1.3703 but closed lower at 1.3632. The bias is neutral both in nearest and medium term as price still consolidating. The bullish correction scenario after rejection from 1.3450/30 (triple bottom) remains intact as price still move inside the minor bullish channel with 1.3750 – 1.3850 as corrective target but still in a major bearish scenario. Immediate support at 1.3580 area. Break below that area could trigger further bearish momentum re-testing 1.3450/35 area but only clear break below 1.3450/35 area can be seen as bearish continuation confirmation targeting 1.3100 area.

The GBPUSD failed to continue its bullish momentum yesterday, bottomed at 1.5030 and closed at 1.5064. The bias is neutral in both nearest and medium term but remains bearish in long term view. The fact that price so far still able to move above 1.5000 – 1.4950 support area indicating the bullish correction scenario after bottomed at 1.4779 on March 01 remains intact with technical target around 1.5250 area. Clear break below 1.5000 – 1.4950 area could trigger further bearish momentum re-testing 1.4779 and might put the bullish corrective phase to its end.