Investing.com - The Australian dollar was higher against its U.S. counterpart in subdued trade on Monday, as disappointing economic growth data out of the U.S. on Friday continued to weigh on demand for the greenback.
AUD/USD hit 1.0328 during late Asian trade, the session high; the pair subsequently consolidated at 1.0326, advancing 0.43%.
The pair was likely to find support at 1.0273, the session low and resistance at 1.0388, the high of April 17.
The Commerce Department said U.S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.
The disappointing data added to expectations that the Federal Reserve will continue its monetary easing program, amid lingering concerns over the outlook for the U.S. economic recovery.
The Aussie was higher against the euro with EUR/AUD slipping 0.15%, to hit 1.2654.
Later in the day, the U.S. was to release a report on pending home sales.
AUD/USD hit 1.0328 during late Asian trade, the session high; the pair subsequently consolidated at 1.0326, advancing 0.43%.
The pair was likely to find support at 1.0273, the session low and resistance at 1.0388, the high of April 17.
The Commerce Department said U.S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.
The disappointing data added to expectations that the Federal Reserve will continue its monetary easing program, amid lingering concerns over the outlook for the U.S. economic recovery.
The Aussie was higher against the euro with EUR/AUD slipping 0.15%, to hit 1.2654.
Later in the day, the U.S. was to release a report on pending home sales.