After a nice run up to set new highs for the day in the AUD/USD, EUR/USD and Cable we have drifted off a little as London gets all settled in for the morning. Expect to see the AUD/USD well supported on any dips back towards 0.6350 while the EUR/USD will need to re-take the 1.2680 level in order to take the focus off retests of 1.2500/50, although as i mentioned earlier, i think we could see the risk currencies reasonably well supported in early Europe, at least until we have time to see if the European equity markets are going to fall off a cliff on the open, and given that Asia as a whole wasn’t a complete disaster today i think we could be ok tonight.