Investing.com - The Australian dollar was higher against its U.S. counterpart on Wednesday, as sentiment on the greenback remained fragile ahead of the Federal Reserve's highly anticipated policy statement due later in the day.
AUD/USD hit 0.8878 during late Asian trade, the session high; the pair subsequently consolidated at 0.8873, gaining 0.19%.
The pair was likely to find support at 1.1125, Tuesday's low and resistance at 1.1229, the high of October 27.
Investors were eyeing the conclusion of the Fed's two day policy meeting later Wednesday, amid concerns that slowing growth in Europe and China could prompt the U.S. central bank to stick to its cautious outlook on monetary policy.
The Fed was likely to announce the conclusion of its asset purchasing stimulus program, known as quantitative easing, but was also expected to reassure markets that interest rates will remain on hold for some time to come.
The Aussie was steady against the New Zealand dollar, with AUD/NZD dipping 0.06% to 1.1176.
Also Thursday, data showed that the ANZ business confidence index for New Zealand climbed to 26.5 this month from a reading of 13.4 in September.