EUR/USD fell on Wednesday as the "risk off" trade came back. Of course it did - we rallied on Tuesday! This pair actually ran into a bit of a daily trend line, and the 1.3075 cluster, and area that had seen quite a bit of downward pressure in the recent past. The fall still hasn't got us below the 1.29 level however. The pair continues to offer selling opportunities in the shorter-term charts though.
EUR/CHF rose on Wednesday as the bottom of the recent consolidation area continues to prove productive. The 1.21 area begins support, and we all know that the Swiss National Bank will make sure the 1.20 is! Could we be seeing a move to 1.24 over the next few weeks? History would suggest so.
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