Investing.com - The Australian dollar was steady against its U.S. counterpart on Monday, hovering near five-week lows as expectations for the Federal Reserve to taper its stimulus program before the year end continued to support the greenback.
AUD/USD hit 0.9390 during late Asian trade, the session high; the pair subsequently consolidated at 0.9385, easing up 0.04%.
The pair was likely to find support at 0.9289, the low of October 1 and resistance at 0.9480, the high of November 8.
Data on Friday showed that the U.S. economy added 204,000 jobs in October, significantly higher than the 125,000 expected by economists. The unemployment rate ticked up to 7.3% from an almost five year low of 7.2% the previous month.
The upbeat data indicated that the U.S. economy shrugged off the impact of the government shutdown and added to expectations that the Fed may start winding down its USD85 billion-a-month asset purchase program as soon as next month.
In Australia, official data on Monday showed that home loans rose 4.4% in September, exceeding expectations for a 4% increase, after a downwardly revised 4% decline the previous month.
The Aussie was fractionally lower against the euro with EUR/AUD adding 0.08%, to hit 1.4252.
AUD/USD hit 0.9390 during late Asian trade, the session high; the pair subsequently consolidated at 0.9385, easing up 0.04%.
The pair was likely to find support at 0.9289, the low of October 1 and resistance at 0.9480, the high of November 8.
Data on Friday showed that the U.S. economy added 204,000 jobs in October, significantly higher than the 125,000 expected by economists. The unemployment rate ticked up to 7.3% from an almost five year low of 7.2% the previous month.
The upbeat data indicated that the U.S. economy shrugged off the impact of the government shutdown and added to expectations that the Fed may start winding down its USD85 billion-a-month asset purchase program as soon as next month.
In Australia, official data on Monday showed that home loans rose 4.4% in September, exceeding expectations for a 4% increase, after a downwardly revised 4% decline the previous month.
The Aussie was fractionally lower against the euro with EUR/AUD adding 0.08%, to hit 1.4252.