Forexlive Asia Wrap Up:

Czech leader says the exit of one or more member states from the euro won't destroy the monetary union ot the project of European integration,  calls Greeks victims. New Zealand BNNZ business confidence fell to 17% from 19.5% and activity outlook rose to 29.3%  from 26.4%. China August industrial profits fell 6.2% in August from a year ago,with YTD y/y falling 3.1%. Australia August job vacancies rose 4.2% in a small bounce for AUD/USD. An extremely quiet trading session without fresh news to keep the markets attention. EUR/USD started near session lows of 1.2865/70 before stops were triggered at the 1.2880 level. Decent two way interest between 1.2875 and 1.2885 was the excitement for the rest of the night. Decent size sellers reported above 1.2890 with stops building through 1.2920. Large U.S. names reported buying interest at 1.2830/40 and 1.2800/10 with stops below. USD/JPY saw the usual 10-15 pip range. Good buying interest at 77.50 with stops building below. Not much up top with possible exporter interest at 77.90/00. AUD/USD had no follow through on the downside below 1.0340. It has now rebounded nicely from 1.0355/60 on exporter demand and a mini squeeze of the weak shorts to a high of 1.0405.  A break of the 1.0410 level could very well put us back into a very familiar 1.0300/1.0500 range till we get further reports on the Chinese economy and the RBA decision later in October. Have a good day.