Investing.com - The Australian dollar was higher against its U.S. counterpart in light trade on Thursday, as Wednesday's disappointing U.S. data weighed on the greenback, although sustained euro zone debt concerns limited risk taking.
AUD/USD hit 1.0322 during late Asian trade, the pair's highest since April 19; the pair subsequently consolidated at 1.0305, adding 0.21%.
The pair was likely to find support at 1.0271, the low of April 21 and resistance at 1.0358, the high of April 19.
The greenback came under pressure after official data on Wednesday showed that U.S. durable goods orders dropped 5.7% in March, much worse than expectations for a decline of 2.8%.
Core durable goods orders, which exclude transportation items, fell 1.4%, compared to expectations for a 0.5% increase.
But sentiment remained fragile after disappointing German economic data earlier in the week sparked concerns over the outlook for the euro zone’s largest economy and fuelled expectations over a possible rate cut by the European Central Bank.
The Aussie was steady against the euro with EUR/AUD easing 0.03%, to hit 1.2655.
Later in the day, the U.S. was to produce the weekly government report on initial jobless claims.
AUD/USD hit 1.0322 during late Asian trade, the pair's highest since April 19; the pair subsequently consolidated at 1.0305, adding 0.21%.
The pair was likely to find support at 1.0271, the low of April 21 and resistance at 1.0358, the high of April 19.
The greenback came under pressure after official data on Wednesday showed that U.S. durable goods orders dropped 5.7% in March, much worse than expectations for a decline of 2.8%.
Core durable goods orders, which exclude transportation items, fell 1.4%, compared to expectations for a 0.5% increase.
But sentiment remained fragile after disappointing German economic data earlier in the week sparked concerns over the outlook for the euro zone’s largest economy and fuelled expectations over a possible rate cut by the European Central Bank.
The Aussie was steady against the euro with EUR/AUD easing 0.03%, to hit 1.2655.
Later in the day, the U.S. was to produce the weekly government report on initial jobless claims.