This pair doesn’t normally do a whole lot during the Asian session but it has moved 40 pips higher in the last few hours despite the EUR/USD losing some ground. In other words, USD/JPY and USD/CHF are leading the way higher and this is an interesting development in my opinion. The big breakdown level in EUR/CHF was at 1.4300 and now that we are back above there, it is not surprising to be seeing some short covering.