Crosses get out of whack in these volatile stop-driven markets
This is how I see it. The market got way overly-exuberent on its taper-driven USD rally and we will now see a correction. EUR/USD has done most of its correcting already meaning that the EUR crosses are somewhat overbought in short-term. Pairs like EUR/JPY and EUR/AUD offer good risk-reward shorting opportunities near current levels. I still think that the AUD/USD offers an excellent catch-up opportunity, and this pair will soon catch a sharp bid tone and march higher towards .9650.
So selling rallies in EUR/AUD and EUR/JPY are my cross-plays of the moment, and the real exotics can consider selling CHF/JPY as I still think that something is going to happen to the Swissy.