AUD,NZD/EUR/USD/Flows and Orders/FXWW News/USD/JPY

Market continues in choppy sideways consolidation

  • EUR/JPY: M&A chatter gave some support to the cross today and short-term support at 133.00 remains untested;
  • EUR dipped slightly after the IFO came in at 107.7, pretty close to expectations;
  • AUD has been a tiny bit soft all day in the face of softer equity markets but still remains inside recent ranges against all of the other majors;
  • EUR/CHF seems to have plenty of order interest close by with bids 1.2270/80 and stops below 1.2260 and again sub-1.2240;
  • The GBP is also in sideways mode and I expect the consolidation to continue in the short-term ahead of the next strong push higher.

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