EUR: Still looking bullish on the crosses

• EUR/JPY looks like its entered another consolidation phase, this time between 125/131, but the trend is undoubtedly bullish.
• EUR/AUD is supported by strong technicals, a double-bottom on the 4-hour chart, and strong flows closely related to the precious metals.
• EUR/GBP is starting to build a constructive short-term bull-trend after basing near .8400.
• EUR/CHF is supported by the SNB.

The recent moves in EUR/USD have been a little bit confusing but when you look at the crosses and overall EUR positioning, it’s probably not all that surprising to see EUR/USD trading close to 1.3200.