The Aussie dollar seemed to have regained some of its strength after last weeks bearish momentum against most pairs. It formed a very big pin bar on Fridays close against the Euro and is now trading lower. Against the pound it is still in an indecision even after the weekly pin bar formed last week.
The SNB failed to decide on pegging the Swiss Franc to the Euro but still maintains that it will introduce measures to weaken its currency. A strong currency seemed to have had adverse effects on its economy and the SNB are adding liquidity into the market to try and ease the strength it has gained over the last few months. This saw the Franc gain some strength early during the London session only to loose it coming into the US open session which is at around 5pm GMT+3 here.Whether they will succeed in convincing the market is another thing all together as the CHF has been a safe haven currency for a long time and a lot has to be done.
The Eur/Usd continues to make lower highs this evening as the usual problems continue to affect the Euro zone. Off the highs of 4516 the pair is now trading lower. The Usd/Chf also seems to be trading lower today from the new highs of 8016 it had made earlier in the day. The Nzd/usd is stuck in a range after making a major correction from 7964 now trading at 8384 after reaching the 84 mark.
I am currently short Eur/Aud from 1.3732 which i will carry till tomorrow. lets see how it pens out.
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