Investing.com - The Australian dollar edged lower against its U.S. counterpart on Wednesday, but losses were expected to remain limited as demand for the greenback remained under pressure after Tuesday's downbeat U.S. data.
AUD/USD hit 0.7805 during late Asian trade, the session low; the pair subsequently consolidated at 0.7812, easing 0.08%.
The pair was likely to find support at 0.7720, the low of February 13 and resistance at 0.7879, the high of February 6.
The greenback remained under pressure after the Federal Reserve Bank of New York said on Tuesday that its general business conditions index decreased to 7.8 this month from a reading of 10.0 in January. Analysts had expected the index to dip to 8.5 in February.
Separately, the National Association of Home Builders said its Housing Market Index decreased to a four-month low of 55.0 this month from 57.0 in January. Analysts expected the index to rise to 58.0 in February.
The Aussie was higher against the euro, with EUR/AUD edging down 0.12% to 1.4577.
Later in the day, the U.S. was to release data on producer prices, housing starts, building permits and industrial production. In addition, the Federal Reserve was to publish the minutes of its January meeting.