Investing.com - The Australian dollar was higher against its U.S. counterpart on Wednesday, after the release of positive home sales data out of Australia, while investors eyed the Federal Reserve's policy statement later in the day.
AUD/USD hit 0.9500 during late Asian trade, the session high; the pair subsequently consolidated at 0.9502, adding 0.23%.
The pair was likely to find support at 0.9426, the low of October 13 and resistance at 0.9623, the high of October 28.
Industry data earlier showed that new home sales in Australia rose 6.4% in September, after a 3.4% increase the previous month.
Meanwhile, the greenback remained supported by the view that markets have already priced in expectations that the Fed will make no changes to its USD85 billion-a-month asset purchase program on Wednesday.
Many investors expect the Fed to maintain its stimulus program well into the first quarter of next year, in order to safeguard the fragile economic recovery in the wake of this month’s 16-day government shutdown.
The Aussie was higher against the euro with EUR/AUD shedding 0.27%, to hit 1.4460.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls and official data on consumer price inflation.
AUD/USD hit 0.9500 during late Asian trade, the session high; the pair subsequently consolidated at 0.9502, adding 0.23%.
The pair was likely to find support at 0.9426, the low of October 13 and resistance at 0.9623, the high of October 28.
Industry data earlier showed that new home sales in Australia rose 6.4% in September, after a 3.4% increase the previous month.
Meanwhile, the greenback remained supported by the view that markets have already priced in expectations that the Fed will make no changes to its USD85 billion-a-month asset purchase program on Wednesday.
Many investors expect the Fed to maintain its stimulus program well into the first quarter of next year, in order to safeguard the fragile economic recovery in the wake of this month’s 16-day government shutdown.
The Aussie was higher against the euro with EUR/AUD shedding 0.27%, to hit 1.4460.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls and official data on consumer price inflation.