"We doubt that sufficient progress may be achieved in the next few days to suspend the referendum.
Any negotiation after the referendum is likely to shift to the approval of a third bailout programme, potentially to cover financing needs up to 2016-17.
The NO lead is likely to shrink further, as capital controls become increasingly disruptive, doubts about PM Tsipras negotiating strategy rise and intra-party tensions within Syriza become increasingly apparent."
'EUR/USD may range trade between 1.0953 -1.1277, with downside bias.'