Investing.com - The Australian dollar was lower against its U.S. counterpart on Tuesday, but remained mildly supported as fresh uncertainty over the future of the Federal Reserve's stimulus program weighed on the greenback.
AUD/USD hit 0.9395 during late Asian trade, the session low; the pair subsequently consolidated at 0.9416, shedding 0.15%.
The pair was likely to find support at 0.9286, the low of September 17 and resistance at 0.9528, the high of September 18 and a three-month high.
The greenback remained under pressure after New York Federal Reserve President William Dudley defended the central bank’s decision to keep its stimulus program unchanged last week, in comments on Monday.
Dudley said that adjustments to the Fed’s USD85 billion-a-month asset purchase program "need to be anchored in an assessment of how the economy is actually performing”.
The Fed said last week that it wanted to see more evidence of a sustained economic recovery before it adjusted the scale of its bond buying program. The decision surprised markets, which had been expecting a modest reduction to the scale of the bank’s bond buying program.
The Aussie was also lower against the euro with EUR/AUD adding 0.21%, to hit 1.4338.
Sentiment on the euro was fragile after European Central Bank President Mario Draghi said the ECB is ready to inject a third round of liquidity into the region’s banks if needed, in order to safeguard the bloc’s recovery.
Later in the day, the U.S. was to release private sector data on house price inflation, as well as a report on consumer confidence.
AUD/USD hit 0.9395 during late Asian trade, the session low; the pair subsequently consolidated at 0.9416, shedding 0.15%.
The pair was likely to find support at 0.9286, the low of September 17 and resistance at 0.9528, the high of September 18 and a three-month high.
The greenback remained under pressure after New York Federal Reserve President William Dudley defended the central bank’s decision to keep its stimulus program unchanged last week, in comments on Monday.
Dudley said that adjustments to the Fed’s USD85 billion-a-month asset purchase program "need to be anchored in an assessment of how the economy is actually performing”.
The Fed said last week that it wanted to see more evidence of a sustained economic recovery before it adjusted the scale of its bond buying program. The decision surprised markets, which had been expecting a modest reduction to the scale of the bank’s bond buying program.
The Aussie was also lower against the euro with EUR/AUD adding 0.21%, to hit 1.4338.
Sentiment on the euro was fragile after European Central Bank President Mario Draghi said the ECB is ready to inject a third round of liquidity into the region’s banks if needed, in order to safeguard the bloc’s recovery.
Later in the day, the U.S. was to release private sector data on house price inflation, as well as a report on consumer confidence.