Investing.com - The Australian dollar edged lower against its U.S. counterpart on Monday, but remained within close distance of a four-month high after the release of positive Australian data and amid ongoing China will implement stimulus measures to shore up growth.
AUD/USD hit 0.9218 during late Asian trade, the pair's lowest since March 27; the pair subsequently consolidated at 0.9240, slipping 0.08%.
The pair was likely to find support at 0.9154, the low of March 26 and resistance at 0.9295, Friday's high and a four-month high.
In a report, the Housing Industry Association said that home sales in Australia rose 4.6% in February, after a 0.5% gain the previous month.
Data also showed that private sector credit in Australia rose 0.4% in February, in line with expectations and after a 0.4% increase the previous month.
Meanwhile, risk sentiment found support after Chinese premier Li Keqiang said Friday the country has policies in place to support economic growth. The remarks eased concerns over recent signs of a slowdown in the world’s second-largest economy.
The Aussie was lower against the euro, with EUR/AUD edging up 0.10% to 1.4884.