NZD/USD started to rise in value during the early hours of the Wednesday session as the news hit the wires that the Chinese might be willing to buy EU debt. We have seen this movie before, and as a result the rally faded fairly quickly. The pair then fell even harder once the Europeans stepped into the headlines by telling the world that the Greek tragedy wasn't over.
The USD/CHF has the Swiss National Bank backing it at the moment via the EUR/CHF pair. The intervention zone is coming soon in the EUR/CHF pair - so selling this pair isn't in our thoughts. A break higher would have us long though.
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