The greek elections have come and gone and the results have not really changed the landscape.  The ND won the election and have until Wednesday to form a coalition government.  If a government can not be formed another election will be required in the near future.  To open the week the EURUSD spiked up to the 1.2750 level before giving back its gains through out trading Monday.  The cross is currently resting on the trend line support that the pair has followed higher throughout the month at 1.2565.  As long as the pair remains above this level the bias must be for a move higher once again.  Resistance begins at the weekly high at 1.2750 followed by the 50 fib at 1.2785 from the May lows.  If trend line support at 1,2765 is broken we could see a move to daily price support at 1.2440.  German ZEW report is due in European Trading on Tuesday.

Res     1.2750        1.2785  ( 50 Fib)

Sup     1.2565        1.2440