EUR/CHF has absolutely fallen apart again in the last 24 hours. However, continuing to sell this cross currency short here is only chasing the trade given that it has already moved more than 300 PIPS. We are waiting for a bounce to sell from, and until we get it - this pair will be difficult to trade as continued large falls are unlikely. We would love to see a bounce and weakness at the 1.10 level, and then we fell we are ready to fall towards parity in this pair.
The EUR/NZD pair has been falling rapidly over a several month perod. The pair actually bounced today, and looks ready to test the 1.65 area, which is a natural area for historical resistance which is again likely to come into play. Any trouble, by way of continued bad news, in Europe could push this pair much lower as the Chinese are currently buying Kiwi bonds hand over fist, supporting the currency in general.
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