Investing.com - The Australian dollar edged lower against its U.S. counterpart on Monday, as investors remained cautious ahead of U.S. economic reports to be released later in the week, while they also continued to monitor developments in Ukraine.
AUD/USD hit 0.8938 during late Asian trade, the pair's lowest since February 20; the pair subsequently consolidated at 0.8970, easing 0.08%.
The pair was likely to find support at 0.8874, the low of February 5 and resistance at 0.9069, the high of February 17.
Demand for the greenback continued to be underpinned after the minutes of the Federal Reserve’s January meeting last week showed that officials agreed the current pace of reductions to the bank’s asset purchase program would remain unchanged, so long as the economy shows signs of improvement.
Elsewhere, Ukraine’s parliament voted on Saturday to remove President Viktor Yanukovich, giving interim presidential powers to an ally of Yulia Tymoshenko, the former prime minister. The interim government has indicated that it will push more integration with Europe.
The Aussie was steady against the euro, with EUR/AUD inching up 0.06% to 1.5318.