Forex: AUD/USD erases intraday losses (Córdoba) - The Aussie and other risk assets received a boost during the European session after Reuters published a report saying that China's central bank will create new FX investment vehicle worth $300 billion split into two funds, one for the European Union and the other for the US.

AUD/USD bounced from a 1-week low of 1.0046 and rose more than 130 pips, erasing intraday losses and reaching the 1.0180 area before losing steam. At time of writing, AUD/USD is trading at the 1.0170/75 area, where it is virtually unchanged since opening.

The Aussie has seen several whipsaws this week as headlines from Europe continue to dominate market's mood and therefore AUD movements.

In terms of technical levels, next resistances could be faced at 1.0200, 1.0240/50 and 1.0300, while on the downside, immediate supports might be found at 1.0140, 1.0080 and the 1.0050 area.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.