Investing.com – The Australian dollar fell against its U.S. counterpart on Thursday, giving up earlier gains as fresh fears over Europe's outweighed hopes that Australia's new prime minister will strike a deal with miners.
AUD/USD hit 0.8709 during European morning trade, shedding 0.34%,after falling from a daily high of 0.8769.
The pair was likely to find support at 0.8582, the low of June 17, and resistance at 0.8859, Monday's high.
Earlier in the day, the cost of protecting Greek government debt against default rose, heightening fears that the euro zone sovereign debt crisis is far from over.
Also Thursday, Julia Gillard became Australia's first woman prime minister, after Kevin Rudd stepped down as Labor party leader, avoiding a ballot he was certain to lose.
The Aussie fell versus the yen, meanwhile, with AUD/JPY slumping 0.62% to reach 77.99.
Later in the day, the U.S. was due to publish key data on durable goods orders, a leading indicator of production. The U.S. was also scheduled to release data on initial jobless claims, a key indicator of overall economic health.
AUD/USD hit 0.8709 during European morning trade, shedding 0.34%,after falling from a daily high of 0.8769.
The pair was likely to find support at 0.8582, the low of June 17, and resistance at 0.8859, Monday's high.
Earlier in the day, the cost of protecting Greek government debt against default rose, heightening fears that the euro zone sovereign debt crisis is far from over.
Also Thursday, Julia Gillard became Australia's first woman prime minister, after Kevin Rudd stepped down as Labor party leader, avoiding a ballot he was certain to lose.
The Aussie fell versus the yen, meanwhile, with AUD/JPY slumping 0.62% to reach 77.99.
Later in the day, the U.S. was due to publish key data on durable goods orders, a leading indicator of production. The U.S. was also scheduled to release data on initial jobless claims, a key indicator of overall economic health.