Investing.com - The Australian dollar edged lower against its U.S. counterpart on Tuesday, as the greeback continued to regain ground after weakening broadly on Friday due to a disappointing U.S. nonfarm payrolls report.
AUD/USD hit 0.9020 during late Asian trade, the session low; the pair subsequently consolidated at 0.9030, shedding 0.27%.
The pair was likely to find support at 0.8894, the low of January 7 and resistance at 0.9118, the high of December 6.
Friday’s data showing that the U.S. economy added far fewer jobs than expected in December cast doubts over the strength of the recovery in the labor market, and fuelled expectations that the Federal Reserve will maintain loose monetary policy for longer.
The Aussie was lower against the euro, with EUR/AUD edging up 0.18% to 1.5128.
Later in the day, the U.S. was to produce data on retail sales, as well as reports on import prices and business inventories.
AUD/USD hit 0.9020 during late Asian trade, the session low; the pair subsequently consolidated at 0.9030, shedding 0.27%.
The pair was likely to find support at 0.8894, the low of January 7 and resistance at 0.9118, the high of December 6.
Friday’s data showing that the U.S. economy added far fewer jobs than expected in December cast doubts over the strength of the recovery in the labor market, and fuelled expectations that the Federal Reserve will maintain loose monetary policy for longer.
The Aussie was lower against the euro, with EUR/AUD edging up 0.18% to 1.5128.
Later in the day, the U.S. was to produce data on retail sales, as well as reports on import prices and business inventories.