Investing.com - The Australian dollar was lower against its U.S. counterpart on Wednesday, despite the release of positive consumer sentiment data from Australia, as the previous session's weak economic data from China continued to weigh.
AUD/USD hit 0.7199 during late Asian trade, the pair's lowest since October 8; the pair subsequently consolidated at 0.7226, slipping 0.24%.
The pair was likely to find support at 0.7146, the low of October 8 and resistance at 0.7365, Tuesday's high.
The Westpac Banking Corporation reported on Wednesday that its index of consumer sentiment for Australia rose 4.2% in August, beating expectations for a 3.0% gain, after a 5.6% decline the previous month.
But markets were still jittery after official data released on Tuesday showed that Chinese imports tumbled 20.4% in September on a year-over-year basis, the eleventh straight monthly decline.
Exports fell by a smaller than forecast 3.7% from a year earlier, resulting in a trade surplus of $60.34 billion.
The weak data underlined concerns over weakening demand for the world’s second largest economy.
China is Australia's biggest export partner.
The Aussie was also lower against the euro, with EUR/AUD gaining 0.42% to 1.5770.