We can expect a more ‘normal’ session today I think after quiet NY trade. AUD remains reasonably well bid on dips from profit takers but sizeable rallies will also encounter grateful sellers. The EUR experienced some heavy pressure during the London session with talk of SNB selling and it is opening in Asia on its lows against both the USD and the JPY. Interesting to note that EUR/AUD has now retraced almost exactly 38.2% of the violent 1.3940/1.5440 upmove.
Good luck today.
