EUR/USD has reached 1.3581 so far this afternoon with the market anticipating a rescue package to be unveiled later this week. Greece has a cabinet meeting on Wednesday where they will likely announce a fresh package of budget reforms. The next step after that would be for Greece to ask the EU for help and then the EU offering guarantees on Greek debt. My guess is that process unfolds before the week is out and Greece comes to market quickly to rollover some of its fast expiring debt.
The market should get a short-term lift from the Greek news but it may soon go hunting for another target like Portugal or Spain, putting the EU to the test. A move above 1.3700 will take the immediate downside pressure off of EUR/USD and open the way for a rebound to the 1.3850 area.
1.3585 is the next hurdle EUR/USD needs to overcome in the near-term.