As Sydney heads off and Europe enters the forex market this morning we note that the EUR, GBP and AUD to name a few have been sold off against the USD and the JPY, all heading back towards their lows for the day. As the attached chart shows, there was little action on the crosses during Asia today, but expect EUR/GBP to push up to 0.9000 tonight and the EUR/CHF to again remain within its recent 1.4800/1.5000 range.
As always, the 0.6300 level remains crucial for the AUD/USD, 1.2700 and then 1.2500 are the ones to watch in the EUR/USD, the 1.4100 level in the Cable and the 98.00 level in USD/JPY.