EUR/JPY is in a short-term 108.50/110.50 consolidation range and AUD/USD is in a wider .81/.85 one. EUR/CHF continues to make new lows but is susceptible to sharp short-covering rallies and EUR/GBP remains bearish but traders are very wary of potential public debt problems for the UK and this cross is also prone to spikes higher. There was talk yesterday of heavy stops above 1.2010 in the EUR/USD and as that was the high overnight, I’m sure they will now have been joined by more.
Good luck today.
