Investing.com - The Australian dollar was lower against its U.S. counterpart on Wednesday, as market sentiment weakened amid reports of divisions within the euro zone over the terms of Greece's bailout.
AUD/USD hit 0.9844 during late Asian trade, the daily low; the pair subsequently consolidated at 0.9879, dropping 0.36%.
The pair was likely to find support at 0.9690, the low of September 22 and resistance at 0.9985, Tuesday's high.
Market sentiment was hit as a reported split between European leaders on the terms of Greece's second EUR109 bailout package added to concerns over the handling of the euro zone sovereign debt crisis.
Meanwhile, Greece's parliament voted a new property-tax law on Tuesday evening, bringing the country a step closer to securing further financial aid and avoiding a possible default.
Later in the day, Finland was to hold a vote on a potential enhancement of the European Financial Stability Facility.
Also Wednesday, industry data showed that Australia new home sales edged up 1.1% in August, following a decline of 8% the previous month.
Meanwhile, the Aussie was up against the New Zealand dollar with AUD/NZD inching up 0.04%, to trade at 1.2574.
Later Wednesday, a U.S. report on durable goods orders was to be released, while Federal Reserve Chairman Ben Bernanke was also scheduled to speak.
AUD/USD hit 0.9844 during late Asian trade, the daily low; the pair subsequently consolidated at 0.9879, dropping 0.36%.
The pair was likely to find support at 0.9690, the low of September 22 and resistance at 0.9985, Tuesday's high.
Market sentiment was hit as a reported split between European leaders on the terms of Greece's second EUR109 bailout package added to concerns over the handling of the euro zone sovereign debt crisis.
Meanwhile, Greece's parliament voted a new property-tax law on Tuesday evening, bringing the country a step closer to securing further financial aid and avoiding a possible default.
Later in the day, Finland was to hold a vote on a potential enhancement of the European Financial Stability Facility.
Also Wednesday, industry data showed that Australia new home sales edged up 1.1% in August, following a decline of 8% the previous month.
Meanwhile, the Aussie was up against the New Zealand dollar with AUD/NZD inching up 0.04%, to trade at 1.2574.
Later Wednesday, a U.S. report on durable goods orders was to be released, while Federal Reserve Chairman Ben Bernanke was also scheduled to speak.