Investing.com - The Australian dollar dipped against its U.S. counterpart on Tuesday over ongoing worries the country's largest trading partner, China, will continue to see cooling growth rates.
In Asian trading on Tuesday, AUD/USD hit 1.0203, down 0.04%, up from a session low of 1.0191 and off from a high of 1.0210.
The pair was likely to test support at 1.0155, the low from July 9, and resistance at 1.0213, the high on July 9.
China is tentatively due to release its latest trade balance figures on Tuesday and any disappointments could send the Aussie falling further.
Chinese monetary policy authorities have already moved to cut interest rates, while data in Japan shows other parts of Asia may be cooling.
Japan on Monday reported that core machinery orders fell 14.8% in May, far worse than market expectations for a decline of 2.4%.
Meanwhile, the dollar rose in parts of Asian trading as investors awaited announcements from a eurozone summit of finance ministers, which sent the Australian dollar falling amid a risk-off trading session.
Meanwhile, the Australia and New Zealand Banking Group announced that job advertisements posted in newspapers and online fell 1.2% from May, which dampened demand for the Australian currency.
The Australian dollar, meanwhile was up against the euro and down against the yen, with EUR/AUD down 0.02% at 1.2062 and AUD/JPY down 0.06% at 81.16.
The pair will move on Chinese trade data tentatively scheduled for later Tuesday and will focus heavily towards Thursday, when Chinese gross domestic product figures are due out.
Any surprise announcements out of the eurozone summit of finance ministers will move the pair as well.
In Asian trading on Tuesday, AUD/USD hit 1.0203, down 0.04%, up from a session low of 1.0191 and off from a high of 1.0210.
The pair was likely to test support at 1.0155, the low from July 9, and resistance at 1.0213, the high on July 9.
China is tentatively due to release its latest trade balance figures on Tuesday and any disappointments could send the Aussie falling further.
Chinese monetary policy authorities have already moved to cut interest rates, while data in Japan shows other parts of Asia may be cooling.
Japan on Monday reported that core machinery orders fell 14.8% in May, far worse than market expectations for a decline of 2.4%.
Meanwhile, the dollar rose in parts of Asian trading as investors awaited announcements from a eurozone summit of finance ministers, which sent the Australian dollar falling amid a risk-off trading session.
Meanwhile, the Australia and New Zealand Banking Group announced that job advertisements posted in newspapers and online fell 1.2% from May, which dampened demand for the Australian currency.
The Australian dollar, meanwhile was up against the euro and down against the yen, with EUR/AUD down 0.02% at 1.2062 and AUD/JPY down 0.06% at 81.16.
The pair will move on Chinese trade data tentatively scheduled for later Tuesday and will focus heavily towards Thursday, when Chinese gross domestic product figures are due out.
Any surprise announcements out of the eurozone summit of finance ministers will move the pair as well.