ForexLive Asia Wrap Up

N.Z. July performance of service index falls to 53.1 , consistent with annual growth of just above 2%. U.K. Rightmove August house prices falls 2.4% m/m , biggest fall ever for August . The London Olympics and uncertain economic outlook were cited . ECB board member Asmussen : Greek exit manageable but not prefered, wood be good if ESM bailout fund came into effect as quickly as possible. NAB raises forecast of AUD/USD from $ 0.9700 to $ 1.00 in 2012. Greece back in the picture later this week as Samaras meets with Juncker on the 22nd, Merkel on the 24th , and Hollande on the 25th, and to that, Hollande-Merkel meeting on the 24th . Lot of talking going on , hopefully something will get accomplished . EUR/USD : Had a brief rally to 1.2357 that ran into some aggressive spec selling , then drifted lower on lackluster trading .  Good buying interest appeared around the 1.2320/25 level . USD/JPY : Consolidated most of the session around 79.50/60 level with good offers reported above 79.65. Downside limited to just below 79.45/50. AUD/USD : Rebounded from Friday's sell off to find support at 1.0415/20. Scattered short-covering is helping it make an attempt to test the resistance above 1.0460/70 level. Still remains soft ahead of the RBA release of the August minutes. on the 21st. Good Luck Today.