The EUR/CHF pair continues to sit just under the 1.15 area, and is now looking a little weak. However, we haven't gotten a large candle or shooting star or the like to sell - but we are watching at this level as the situation in the EU is getting more and more bleak. Even with the SNB working to lift this pair, the weight of the market will more than likely be too much in the end - just like it was when they intervened around the 1.38 handle.
The EUR/AUD pair is a great barometer of risk aversion in the markets. While there is a trade here - if we break below the gap, the reality is that this pair will tilt towards the EUR when the world is nervous, and towards the AUD when the markets are in bull mode. Because of this - it's an important pair to watch.
Create a FREE account