Cross action likely to dominate

Source: www.forexlive.com

Cable and AUD/USD are exactly where we left them yesterday but the EUR and JPY have been hurt on the crosses. EUR/GBP was a big mover but as I’m not short already, I’m not going to start chasing it. I have some strong support coming at .8490 (technicals to follow). My feeling with EUR/USD is that after putting in a top at 1.4340, we have now put in another at 1.4145 and we should now trade lower over the next 10 days with an optimistic target at 1.35. Australian unemployment figures due out mid-morning. Good luck today.


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