Investing.com - The Australian dollar almost unchanged against its U.S. counterpart on Wednesday, after positive Australian data, although investors remained cautious ahead of the Federal Reserve's monthly policy statement later in the day.
AUD/USD hit 0.9504 during late Asian trade, the session high; the pair subsequently consolidated at 0.9492, easing up 0.06%.
The pair was likely to find support at 0.9416, the low of June 12 and resistance at 0.9574, Tuesday's high.
The Conference Board said that its leading index for Australia rose 0.3% in April, after a 0.1% gain the previous month.
But investors remained cautious amid growing expectations that the Fed will to start to unwind its USD85 billion-a-month bond purchasing program later this year.
In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.
The Aussie was steady against the euro with EUR/AUD inching 0.02% higher, to hit 1.4122.
AUD/USD hit 0.9504 during late Asian trade, the session high; the pair subsequently consolidated at 0.9492, easing up 0.06%.
The pair was likely to find support at 0.9416, the low of June 12 and resistance at 0.9574, Tuesday's high.
The Conference Board said that its leading index for Australia rose 0.3% in April, after a 0.1% gain the previous month.
But investors remained cautious amid growing expectations that the Fed will to start to unwind its USD85 billion-a-month bond purchasing program later this year.
In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.
The Aussie was steady against the euro with EUR/AUD inching 0.02% higher, to hit 1.4122.