Investing.com - The Australian dollar was trading near one-and-a-half month highs against its U.S. counterpart on Tuesday, after the release of upbeat Australian business confidence data and as concerns over a U.S. military strike against Syria eased.
AUD/USD hit 0.9289 during late Asian trade, the pair's highest since July 28; the pair subsequently consolidated at 0.9257, gaining 0.30%.
The pair was likely to find support at 0.9117, the low of September 6 and resistance at 09345, the high of June 26.
In a report, the National Australia Bank said its business confidence index rose to 6 in August from a reading of minus 3 the previous month, hitting its highest level since June 2011.
In addition, industrial production in China rose 10.4% last month, beating expectations for a 9.9% increase and accelerating from a 9.7% gain in July.
China is Australia's biggest export partner.
Market sentiment was boosted after U.S. President Barack Obama said he would put plans for a military strike against Syria on hold if the country agrees to a Russian proposal to place its chemical weapons under international control.
Meanwhile, the greenback remained under pressure after the latest U.S. nonfarm payrolls report showed that the economy added fewer jobs than expected in August.
The Aussie was higher against the euro with EUR/AUD shedding 0.26%, to hit 1.4326.
AUD/USD hit 0.9289 during late Asian trade, the pair's highest since July 28; the pair subsequently consolidated at 0.9257, gaining 0.30%.
The pair was likely to find support at 0.9117, the low of September 6 and resistance at 09345, the high of June 26.
In a report, the National Australia Bank said its business confidence index rose to 6 in August from a reading of minus 3 the previous month, hitting its highest level since June 2011.
In addition, industrial production in China rose 10.4% last month, beating expectations for a 9.9% increase and accelerating from a 9.7% gain in July.
China is Australia's biggest export partner.
Market sentiment was boosted after U.S. President Barack Obama said he would put plans for a military strike against Syria on hold if the country agrees to a Russian proposal to place its chemical weapons under international control.
Meanwhile, the greenback remained under pressure after the latest U.S. nonfarm payrolls report showed that the economy added fewer jobs than expected in August.
The Aussie was higher against the euro with EUR/AUD shedding 0.26%, to hit 1.4326.