AUD/USD capped at 1.0197, down 20 pips
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AUD/USD
FXstreet.com (Barcelona) - After a very extended Asian session rally on news from the EU Summit, the AUDUSD (second best performer of the day) was capped at 1.0197, right beneath 1.0200 sentiment level.
Some corrective easing during the European session brought the pair down to 1.0170 area.
China intends to fine tune its monetary policy as global uncertainty grows due to Europe and will use various monetary policy tools to ensure stable credit. Policy easing in China is risk positive for the AUD.
On the upside, 1.0197/1.0200 is first resistance ahead of the 200-day moving average at 1.0245. On the downside, supports might be found at 1.0125 (yesterday's high) and 1.0080/90 (June 26/27 highs).
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Some corrective easing during the European session brought the pair down to 1.0170 area.
China intends to fine tune its monetary policy as global uncertainty grows due to Europe and will use various monetary policy tools to ensure stable credit. Policy easing in China is risk positive for the AUD.
On the upside, 1.0197/1.0200 is first resistance ahead of the 200-day moving average at 1.0245. On the downside, supports might be found at 1.0125 (yesterday's high) and 1.0080/90 (June 26/27 highs).
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