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Forex: AUD/USD holding steady above 1.0350

AUD/USD is last at 1.0368, little changed for last 12 hours as it retraced from weekly highs at 1.0410 during early London trade. The pair hasn't been able to move higher from previous weekly close Friday, though it remains relatively strong given most of the weakness for the shortest term goes to Euro, sending EUR/AUD to fresh 3-month lows around the 1.2400 handle.
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Forex: EUR/JPY demand at 121.60/90 holds; watch all the supply overhead

Having retraced over 50% of its Monday's recovery, the EUR/JPY failed to maintain the upward steeping formation aimed at closing Monday's major gap, and after faced with 124.00, a new wave of selling pressure knocked the rate back down sub 122.00 as headlines crossed the wires that Cyprus had rejected the unpopular bank levy.
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