AUD/USD: Two Way Flows Limit Price Action

Movement in AUD/USD since the start of the European session has been restrictive, with price action in the other dollar majors having a limited impact. AUD/USD's topside has been restrictive, with the pair struggling ahead of 0.7460 throughout the European morning. Broad dollar gains were also influential, with the pair trading defensively as USD/JPY rifled through stops at 119.40 and recorded a 119.51 session high. AUD/USD fell into 0.7440 and traded down to 0.7437. Support came via AUD/JPY demand, while Asian bids through AUD/USD at 0.7435 and an AUD/NZD fund interest at 1.1250 also influenced sentiment.