Investing.com - The Australian dollar was almost unchanged against its U.S. counterpart on Monday, trading near six-week lows as investors remained cautious amid ongoing global growth concerns.
AUD/USD hit 1.0308 during late Asian trade, the session high; the pair subsequently consolidated at 1.0281, easing up 0.03%.
The pair was likely to find support at 1.0249, the low of February 25 and resistance at 1.0337, the high of April 18.
Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, as the country attempts to break an ongoing political deadlock.
Meanwhile, investors remained focused on the yen, which weakened across the board after the Group of 20 nations said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen.
The Aussie was fractionlly lower against the euro with EUR/AUD inching up 0.07, to hit 1.2704.
Later in the day, the U.S. was to release private sector data on existing home sales.
AUD/USD hit 1.0308 during late Asian trade, the session high; the pair subsequently consolidated at 1.0281, easing up 0.03%.
The pair was likely to find support at 1.0249, the low of February 25 and resistance at 1.0337, the high of April 18.
Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, as the country attempts to break an ongoing political deadlock.
Meanwhile, investors remained focused on the yen, which weakened across the board after the Group of 20 nations said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen.
The Aussie was fractionlly lower against the euro with EUR/AUD inching up 0.07, to hit 1.2704.
Later in the day, the U.S. was to release private sector data on existing home sales.