I should know, I did it for years. Watch for the first move at the beginning of a session. The reason this is important is that order books are often passed from one centre to another. When a bank receives the order book, they look for big orders close to the money. My guess is that there are heavy sell orders in both EUR/USD and AUD/USD, relatively close to 1.2850 and .6510. When Asia took over the books from NY, they sold both pairs with gay abandon in early trade and then started to buy back their shorts, pushing both pairs back close to where they came from. Now we are seeing something similar happen when early Europe comes in. Both pairs have again been sold and I would suggest that this is dealers looking at their order books and taking positions accordingly.
Money for old rope really.
