Investing.com - The Australian dollar rose against its U.S. counterpart on Wednesday, after upbeat Australian consumer sentiment data, although global growth concerns continued to weigh on market sentiment.
AUD/USD hit 1.0237 during European morning trade, the daily high; the pair subsequently consolidated at 1.0239, rising 0.32%.
The pair was likely to find support at 1.0150, the low of October 8 and resistance at 1.0300, the high of September 2.
In a report, the Westpac Banking Corporation said that consumer sentiment in Australia rose 1% in October, after a 1.60% inrease the previous month.
Meanwhile, sentiment remained under pressure after the International Monetary Fund cut global economic growth forecasts for 2012 and 2013 on Tuesday, justifying the recent round of central bank stimulus which aimed to support to the world's fragile economies.
Earlier in the day, the IMF said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
Markets were also jittery amid uncertainty over when Spain will request a sovereign bailout and when Greece will agree with its international lenders on terms for the next tranche of funds.
Elsewhere, the Aussie was higher against the euro with EUR/AUD shedding 0.43%, to hit 1.2572.
Later in the day, the Federal Reserve was to publish its Beige Book.
AUD/USD hit 1.0237 during European morning trade, the daily high; the pair subsequently consolidated at 1.0239, rising 0.32%.
The pair was likely to find support at 1.0150, the low of October 8 and resistance at 1.0300, the high of September 2.
In a report, the Westpac Banking Corporation said that consumer sentiment in Australia rose 1% in October, after a 1.60% inrease the previous month.
Meanwhile, sentiment remained under pressure after the International Monetary Fund cut global economic growth forecasts for 2012 and 2013 on Tuesday, justifying the recent round of central bank stimulus which aimed to support to the world's fragile economies.
Earlier in the day, the IMF said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
Markets were also jittery amid uncertainty over when Spain will request a sovereign bailout and when Greece will agree with its international lenders on terms for the next tranche of funds.
Elsewhere, the Aussie was higher against the euro with EUR/AUD shedding 0.43%, to hit 1.2572.
Later in the day, the Federal Reserve was to publish its Beige Book.