Investing.com - The Australian dollar was lower against its U.S. counterpart in quiet trade on Monday, as global growth concerns continued to weigh, while investors eyed the release of U.S. economic data later in the day.
AUD/USD hit 1.0345 during European morning trade, the daily low; the pair subsequently consolidated at 1.0346, falling 0.27%.
The pair was likely to find support at 1.0318, the low of October 19 and resistance at 1.0412, the high of October 18.
Investors remained cautious without any indication on whether Spain is preparing to request a bailout from its euro zone partners, which would activate a bond buying program by the European Central Bank.
Meanwhile, doubts over whether Greece can meet austerity targets demanded by the troika mounted after the country’s opposition leaders said his party would vote against an austerity package expected to go before parliament later this week.
Trading activity was expected to remain thin on Monday, as a result of the first unscheduled, market-wide shut down since September 2001as Hurricane Sandy approached the northeastern U.S.
The Aussie was steady against the euro with EUR/AUD inching down 0.01%, to hit 1.2472.
Later in the day, the U.S. was to release government data on personal income, personal spending and core consumer inflation.
AUD/USD hit 1.0345 during European morning trade, the daily low; the pair subsequently consolidated at 1.0346, falling 0.27%.
The pair was likely to find support at 1.0318, the low of October 19 and resistance at 1.0412, the high of October 18.
Investors remained cautious without any indication on whether Spain is preparing to request a bailout from its euro zone partners, which would activate a bond buying program by the European Central Bank.
Meanwhile, doubts over whether Greece can meet austerity targets demanded by the troika mounted after the country’s opposition leaders said his party would vote against an austerity package expected to go before parliament later this week.
Trading activity was expected to remain thin on Monday, as a result of the first unscheduled, market-wide shut down since September 2001as Hurricane Sandy approached the northeastern U.S.
The Aussie was steady against the euro with EUR/AUD inching down 0.01%, to hit 1.2472.
Later in the day, the U.S. was to release government data on personal income, personal spending and core consumer inflation.