CROSSES: EUR/AUD has opened today above 1.3000 and looks set to test the interim target at 1.3200 (see charts). I will reduce my long position significantly as we approach that level. AUD/JPY is consolidating in a wedge formation (see chart) and a break outside of this will generate significant momentum. AUD/NZD is also in consolidation mode between 1.2000/1.2150.
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