Investing.com - The Australian dollar was steady against its U.S. counterpart on Wednesday, as markets were jittery amid uncertainty over the outcome of ongoing U.S. budget negociations.
AUD/USD hit 1.0505 during late Asian trade, the pair's lowest since December 11; the pair subsequently consolidated at 1.0529, dipping 0.04%.
The pair was likely to find support at 1.0462, the low of December 11 and resistance at 1.0555, the high of December 17.
Market sentiment was supported by hopes that an agreement to avoid the U.S. fiscal cliff can be reached ahead of the January 1 deadline.
Negotiations aimed at avoiding the automatic tax hikes and spending cuts which investors fear could derail the U.S. recovery, have intensified in recent days, raising hopes that U.S. lawmakers will reach an agreement by the end of the year.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.15%, to hit 1.2578.
Later in the day, the U.S. was to publish government data on building permits, housing starts and crude oil stockpiles.
AUD/USD hit 1.0505 during late Asian trade, the pair's lowest since December 11; the pair subsequently consolidated at 1.0529, dipping 0.04%.
The pair was likely to find support at 1.0462, the low of December 11 and resistance at 1.0555, the high of December 17.
Market sentiment was supported by hopes that an agreement to avoid the U.S. fiscal cliff can be reached ahead of the January 1 deadline.
Negotiations aimed at avoiding the automatic tax hikes and spending cuts which investors fear could derail the U.S. recovery, have intensified in recent days, raising hopes that U.S. lawmakers will reach an agreement by the end of the year.
Elsewhere, the Aussie was lower against the euro with EUR/AUD adding 0.15%, to hit 1.2578.
Later in the day, the U.S. was to publish government data on building permits, housing starts and crude oil stockpiles.