EUR/USD fell initially during the Tuesday session as the EU Finance Ministers cancelled their meeting on whether or not to deliver the next bailout for the Greeks. However, later in the session there was an announcement that the presumed incoming Prime Minister of Greece is willing to promise a continuation of austerity if elected.
The EUR/CHF pair continues to grind lower, testing the Swiss National Bank. Remember that the 1.20 level is a bit of a floor in this pair, and the threat of intervention will have to be acted upon if we get much lower. Because of this - we are willing to buy at lower levels.
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