Investing.com - The Australian dollar was higher against its U.S. counterpart in subdued trade on Tuesday, but the Aussie's gains were limited as markets remained focused on Hurricane Sandy.
AUD/USD hit 1.0371 during European morning trade, the daily high; the pair subsequently consolidated at 1.0366, rising 0.34%.
The pair was likely to find support at 1.0306, the low of October 26 and resistance at 1.0412, the high of October 28.
Sentiment remained under pressure after Spanish Prime Minister Mariano Rajoy said Monday that he would request a bailout "when I think it is in the interests of Spain".
His comments came after official data showed Spanish retail sales dropped at the fastest pace on record in September, further clouding the economic outlook.
Later Tuesday, Italy was planning to auction as much as EUR7 billion of government bonds, but investor remained jittery amid concerns over former Prime Minister Silvio Berlusconi's threat to bring down the current government.
In Australia, industry data showed that new home sales fell for the third consecutive month in September, dropping 3.7% after a 5.3% decline the previous month.
Elsewhere, the Aussie was higher against the euro with EUR/AUD falling 0.12%, to hit 1.2474.
Later in the day, the U.S. was to release data on consumer confidence, as well as industry data on house price inflation.
AUD/USD hit 1.0371 during European morning trade, the daily high; the pair subsequently consolidated at 1.0366, rising 0.34%.
The pair was likely to find support at 1.0306, the low of October 26 and resistance at 1.0412, the high of October 28.
Sentiment remained under pressure after Spanish Prime Minister Mariano Rajoy said Monday that he would request a bailout "when I think it is in the interests of Spain".
His comments came after official data showed Spanish retail sales dropped at the fastest pace on record in September, further clouding the economic outlook.
Later Tuesday, Italy was planning to auction as much as EUR7 billion of government bonds, but investor remained jittery amid concerns over former Prime Minister Silvio Berlusconi's threat to bring down the current government.
In Australia, industry data showed that new home sales fell for the third consecutive month in September, dropping 3.7% after a 5.3% decline the previous month.
Elsewhere, the Aussie was higher against the euro with EUR/AUD falling 0.12%, to hit 1.2474.
Later in the day, the U.S. was to release data on consumer confidence, as well as industry data on house price inflation.