Investing.com - The Australian dollar was steady against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia said a rate cut remained possible, while the greenback remained under pressure ahead of the Federal Reserve's upcoming policy meeting.
AUD/USD hit 0.9335 during late Asian trade, the session high; the pair subsequently consolidated at 0.9318, inching 0.02% higher.
The pair was likely to find support at 0.9168, the low of September 9 and resistance at 0.9475, the high of June 11.
The minutes of the RBA's September 3 policy meeting showed that the central bank retains the option of reducing interest rates and said a further drop in the Australian dollar would help the economy.
Separately, official data showed that new motor vehicle sales rose 0.8% in August, after a downwardly revised 3.6% decline the previous month.
Meanwhile, investors remained cautious ahead of the outcome of the Fed's policy meeting, after a recent series of lukewarm U.S. data raised doubts over whether the central bank will start to taper its USD85 billion-a-month bond buying program.
The Aussie was lower against the euro with EUR/AUD adding 0.10%, to hit 1.4323.
Later in the day, the U.S. was to release data on consumer price inflation.
AUD/USD hit 0.9335 during late Asian trade, the session high; the pair subsequently consolidated at 0.9318, inching 0.02% higher.
The pair was likely to find support at 0.9168, the low of September 9 and resistance at 0.9475, the high of June 11.
The minutes of the RBA's September 3 policy meeting showed that the central bank retains the option of reducing interest rates and said a further drop in the Australian dollar would help the economy.
Separately, official data showed that new motor vehicle sales rose 0.8% in August, after a downwardly revised 3.6% decline the previous month.
Meanwhile, investors remained cautious ahead of the outcome of the Fed's policy meeting, after a recent series of lukewarm U.S. data raised doubts over whether the central bank will start to taper its USD85 billion-a-month bond buying program.
The Aussie was lower against the euro with EUR/AUD adding 0.10%, to hit 1.4323.
Later in the day, the U.S. was to release data on consumer price inflation.