EUR/USD shot straight up as it was announced that 5 central banks were going to provide dollar liquidity for the EU banks. This pair shot up quite rapidly, but fell slightly towards the NY afternoon. The 1.40 lies ahead, and we think this might be the area to watch for future direction.
EUR/AUD also looks vulnerable at this point. The 1.35 area is pushing back as the resistance level could be too tough to overcome. (The pair is in a decided downtrend.) We like selling this pair, and a breaking of the lows on Thursday could be just the signal we are looking for.
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