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.