EUR/NZD fell on Friday as traders are abandoning the Euro in droves. The pair actually formed a shooting star on the weekly chart, so it looks like a fall is imminent. The 1.75 level below should continue to be supportive, and the trouble in the EU will certainly see more Euro selling before it is all over.
EUR/JPY had a decidedly flat day, going back and forth between the above 103 area, and the below 103 area. The market is certainly bearish, and we feel that any rallies are invitations to sell at this point.
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