Investing.com - The Australian dollar was higher against its U.S. counterpart on Monday, but remained under pressure as mounting expectations for a near-term end to the Federal Reserve's bnd buying program supported the greenback.
AUD/USD hit 0.9792 during late Asian trade, the session high; the pair subsequently consolidated at 0.9756, rising 0.22%.
The pair was likely to find support at 0.9712, Friday's low and an 11-month low and resistance at 0.9827, Friday's high.
The greenback strengthened broadly on Friday after data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
The strong data fuelled speculation over a possible near-term exit from the U.S. central bank’s asset purchase program.
The Aussie was higher against the euro with EUR/AUD slipping 0.16%, to hit 1.3162.
AUD/USD hit 0.9792 during late Asian trade, the session high; the pair subsequently consolidated at 0.9756, rising 0.22%.
The pair was likely to find support at 0.9712, Friday's low and an 11-month low and resistance at 0.9827, Friday's high.
The greenback strengthened broadly on Friday after data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
The strong data fuelled speculation over a possible near-term exit from the U.S. central bank’s asset purchase program.
The Aussie was higher against the euro with EUR/AUD slipping 0.16%, to hit 1.3162.