Forex: AUD/USD erases intraday losses

FXstreet.com (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.

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