Investing.com - The Australian dollar edged higher against its U.S. counterpart on Monday, as demand for the greenback remained under pressure amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.
AUD/USD hit 0.9044 during late Asian trade, the session high; the pair subsequently consolidated at 0.9040, edging up 0.16%.
The pair was likely to find support at 0.8932, the low of August 22 and resistance at 0.9233, the high of August 19.
On Friday, the Commerce Department said U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The weak data sparked concerns over the strength of the recovery in the housing sector and fuelled speculation over whether the Fed will start to scale back its USD85 billion-a-month asset purchase program in September.
The Aussie was lower against the New Zealand dollar with AUD/NZD slipping 0.16%, to hit 1.1537.
Also Monday, official data showed that New Zealand's trade balance swung into a deficit of NZD774 million in July, from a surplus of NZD374 million the previous month. Analysts had expected the trade surplus to narrow to NZD50 million last month.
Later in the day, the U.S. was to release data on durable goods orders.
AUD/USD hit 0.9044 during late Asian trade, the session high; the pair subsequently consolidated at 0.9040, edging up 0.16%.
The pair was likely to find support at 0.8932, the low of August 22 and resistance at 0.9233, the high of August 19.
On Friday, the Commerce Department said U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The weak data sparked concerns over the strength of the recovery in the housing sector and fuelled speculation over whether the Fed will start to scale back its USD85 billion-a-month asset purchase program in September.
The Aussie was lower against the New Zealand dollar with AUD/NZD slipping 0.16%, to hit 1.1537.
Also Monday, official data showed that New Zealand's trade balance swung into a deficit of NZD774 million in July, from a surplus of NZD374 million the previous month. Analysts had expected the trade surplus to narrow to NZD50 million last month.
Later in the day, the U.S. was to release data on durable goods orders.