AUTOREFRESH 
Session lows for EUR/CHF, talk SNB sells
By Jamie Coleman || July 29, 2010 at 14:42 GMT
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Traders report vague talk of the SNB selling EUR/CHF today. This is the first tiem we’ve heard talk of sales in the cross as most of their activity has been via the “legs” up to now, selling EUR/USD and selling USD/CHF, opportunistically.
There were also rumors of an SNB rate hike in September making the rounds today, which helped strengthen the franc, so make of it what you will.
EUR/CHF trades now around the 1.3620 level. I’d continue to suggest avoiding EUR/CHF like the plague.
Jaime, if SNB really are selling then judging from their previous exploits then its probably the best signal to get long that Ive seen in months…
I read thro’ Taylor’s report and it appears reasonable by looking at long-term charts. AUDUSD has a chance to reach 0.93 in August; it is not denied. There are a few SMA (weekly chart) coming near 0.83, which offered support during April-May 2010. If these SMA-supports give way, then AUD would end up in the high seventies in the next few months. However, short-term traders cannot use this info to trade because the carrying cost of AUDUSD short is not small.