Investing.com - The Australian dollar eased off a three-week low against its U.S. counterpart on Wednesday, boosted by positive Australian data while investors remained cautious over Greece’s financial recovery despite a second bailout.
AUD/USD hit 1.0686 during late Asian trade, the daily high; the pair subsequently consolidated at 1.0682, rising 0.19%.
The pair was likely to find support at 1.0591, the low of January 27 and resistance 1.0755, the high of February 2.
Official data showed earlier that Australian wage prices rose more-than-expected in the fourth quarter, adding 1% after a 0.7% increase the previous quarter. Analysts had expected wage prices to rise 0.8% in the fourth quarter.
In a separate report, the Melbourne Institute said that its inflation gauge for Australia rose 0.5% in January after a 0.1% fall the previous month.
The data came after a report by the Conference Board showing that its leading index for Australia rose 0.2% in December after a 0.3% decline the previous month.
But the risk-related Aussie remained under pressure as investors were skeptical of Greece’s ability to implement the terms of a EUR130 billion bailout package approved by euro zone finance ministers early Tuesday morning.
Elsewhere, the Aussie was flat against the euro with EUR/AUD hitting 1.2413.
Later in the day, the U.S. was to release industry data on existing home sales followed by official data on crude oil stockpiles.
AUD/USD hit 1.0686 during late Asian trade, the daily high; the pair subsequently consolidated at 1.0682, rising 0.19%.
The pair was likely to find support at 1.0591, the low of January 27 and resistance 1.0755, the high of February 2.
Official data showed earlier that Australian wage prices rose more-than-expected in the fourth quarter, adding 1% after a 0.7% increase the previous quarter. Analysts had expected wage prices to rise 0.8% in the fourth quarter.
In a separate report, the Melbourne Institute said that its inflation gauge for Australia rose 0.5% in January after a 0.1% fall the previous month.
The data came after a report by the Conference Board showing that its leading index for Australia rose 0.2% in December after a 0.3% decline the previous month.
But the risk-related Aussie remained under pressure as investors were skeptical of Greece’s ability to implement the terms of a EUR130 billion bailout package approved by euro zone finance ministers early Tuesday morning.
Elsewhere, the Aussie was flat against the euro with EUR/AUD hitting 1.2413.
Later in the day, the U.S. was to release industry data on existing home sales followed by official data on crude oil stockpiles.