Don’t believe everything you hear today as somebody might be having you on!
The CHF is making a comeback and it’s imminent demise, which I have been forecasting, is obviously greatly exaggerated. EUR/CHF is back under 1.5100 and no sign of the SNB. Longs will be getting nervous.
AUD/USD made a nice rally off the hourly double bottom at .6775. Looks like a .68/.70 range to me. EUR/USD is well supported by Sovereign buying in the 1.31’s but I am not overly convinced yet that the EUR is ripe for another bull run. GBP I still like although I have no rational explanation for why it should rally, apart from being oversold.
The JPY will dominate the session again in Asia. I still believe in a 92-102 consolidation range for USD/JPY and I will only contemplate trading it if we get close to either extremity.
Good luck today.
