Investing.com - The Australian dollar was steady against its U.S. counterpart on Tuesday, as expectations for the Federal Reserve to taper its bond buying program in the near future continued to support the greenback.
AUD/USD hit 0.9276 during late Asian trade, the session high; the pair subsequently consolidated at 0.9248, easing up 0.02%.
The pair was likely to find support at 0.9148, Monday's low and a more than two-year low and near-term resistance at 0.9313, the high of June 20.
The greenback remained supported after Fed Chairman Ben Bernanke said Wednesday the bank could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014 if the economy continues to pick up.
However, Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, on Monday said the central bank was committed to continuing its bond purchase program until the U.S. unemployment rate falls further.
Meanwhile, investors remained cautious amid sustained concerns over financial stability in China, as Chinese equities posted their largest daily decline in nearly four years on Monday.
The Aussie was lower against the euro with EUR/AUD rising 0.22%, to hit 1.4211.
Later in the day, the U.S. was to release official data on durable goods orders and reports on home sales and consumer confidence.
AUD/USD hit 0.9276 during late Asian trade, the session high; the pair subsequently consolidated at 0.9248, easing up 0.02%.
The pair was likely to find support at 0.9148, Monday's low and a more than two-year low and near-term resistance at 0.9313, the high of June 20.
The greenback remained supported after Fed Chairman Ben Bernanke said Wednesday the bank could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014 if the economy continues to pick up.
However, Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, on Monday said the central bank was committed to continuing its bond purchase program until the U.S. unemployment rate falls further.
Meanwhile, investors remained cautious amid sustained concerns over financial stability in China, as Chinese equities posted their largest daily decline in nearly four years on Monday.
The Aussie was lower against the euro with EUR/AUD rising 0.22%, to hit 1.4211.
Later in the day, the U.S. was to release official data on durable goods orders and reports on home sales and consumer confidence.