Investing.com - The Australian dollar was higher against its U.S. counterpart on Monday, despite disappointing Australian new motor vehicle sales data, while uncertainty over the future of the Federal Reserve's stimulus program persisted.
AUD/USD hit 0.9233 during late Asian trade, the pair's highest since July 29; the pair subsequently consolidated at 0.9206, adding 0.24%.
The pair was likely to find support at 0.9058, the low of August 15 and resistance at 0.9318, the high of July 24.
In a report, the Australian Bureau of Statistics said that new motor vehicle sales dropped 3.5% in July, after a 3.6% increase the previous month. June's figure was revised down from a previously estimated 4% rise.
Meanwhile, investors were looking ahead to the minutes of the Federal Reserve's July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as September were boosted late last week after data showed that U.S. weekly jobless claims fell to an almost six year low.
The Aussie was lower against the New Zealand dollar with AUD/NZD slipping 0.12%, to hit 1.1315.
Also Monday, official data showed that consumer price inflation rose 0.6% in the second quarter, in line with expectations, after a 0.8% increase in the three months to March.
AUD/USD hit 0.9233 during late Asian trade, the pair's highest since July 29; the pair subsequently consolidated at 0.9206, adding 0.24%.
The pair was likely to find support at 0.9058, the low of August 15 and resistance at 0.9318, the high of July 24.
In a report, the Australian Bureau of Statistics said that new motor vehicle sales dropped 3.5% in July, after a 3.6% increase the previous month. June's figure was revised down from a previously estimated 4% rise.
Meanwhile, investors were looking ahead to the minutes of the Federal Reserve's July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as September were boosted late last week after data showed that U.S. weekly jobless claims fell to an almost six year low.
The Aussie was lower against the New Zealand dollar with AUD/NZD slipping 0.12%, to hit 1.1315.
Also Monday, official data showed that consumer price inflation rose 0.6% in the second quarter, in line with expectations, after a 0.8% increase in the three months to March.