FXstreet.com (Barcelona) - The Australian dollar has managed to register marginal gains against the U.S. dollar, though the pair remains trapped within a limited range, as most of the pairs in the forex market, waiting for the EU summit this week.
After rumors that China may intervene in the yuan, nervousness surrounding the euro area has increased in European trading Wednesday. According to analyst E.Theoret Scotiabank, "The AUD would be positioned to fluctuate according to risk trends as we approach the start of the EU summit tomorrow."
The cross is presently trading around the region of 1.0070, advancing +0.05% above its opening level in these moments. According to the analysts at ICN.com, the next resistance levels will be found at 1.0095, followed by 1.0130, and finally 1.0180. On the downside, a breach of 1.0025 will expose additional supports at 1.0000, then 0.9980.
After rumors that China may intervene in the yuan, nervousness surrounding the euro area has increased in European trading Wednesday. According to analyst E.Theoret Scotiabank, "The AUD would be positioned to fluctuate according to risk trends as we approach the start of the EU summit tomorrow."
The cross is presently trading around the region of 1.0070, advancing +0.05% above its opening level in these moments. According to the analysts at ICN.com, the next resistance levels will be found at 1.0095, followed by 1.0130, and finally 1.0180. On the downside, a breach of 1.0025 will expose additional supports at 1.0000, then 0.9980.
