Investing.com - The Australian dollar edged higher against its U.S. counterpart on Monday, as sustained expectations for the Federal Reserve to delay tapering its stimulus program still dented demand for the greenback.
AUD/USD hit 0.9616 during late Asian trade, the session high; the pair subsequently consolidated at 0.9603, adding 0.20%.
The pair was likely to find support at 0.9528, the low of October 17 and resistance at 0.9671, the high of October 24.
The greenback remained under pressure as investors looked ahead to the Federal Reserve’s upcoming policy meeting later in the week, amid expectations that the central bank will delay plans to start tapering stimulus until well into next year.
Data on Friday showed that an index of U.S. consumer sentiment was revised down to a 10-month low in October on concerns over the economic impact of the recent 16-day government shutdown.
The Aussie was higher against the euro with EUR/AUD shedding 0.21%, to hit 1.4374.
Later in the day, the U.S. was to release official data on industrial production, as well as a report on pending home sales.
AUD/USD hit 0.9616 during late Asian trade, the session high; the pair subsequently consolidated at 0.9603, adding 0.20%.
The pair was likely to find support at 0.9528, the low of October 17 and resistance at 0.9671, the high of October 24.
The greenback remained under pressure as investors looked ahead to the Federal Reserve’s upcoming policy meeting later in the week, amid expectations that the central bank will delay plans to start tapering stimulus until well into next year.
Data on Friday showed that an index of U.S. consumer sentiment was revised down to a 10-month low in October on concerns over the economic impact of the recent 16-day government shutdown.
The Aussie was higher against the euro with EUR/AUD shedding 0.21%, to hit 1.4374.
Later in the day, the U.S. was to release official data on industrial production, as well as a report on pending home sales.