Investing.com - The Australian dollar was down against its U.S. counterpart on Monday, touching a ten-month low as ongoing concerns over the euro zone debt crisis continued to weigh on market sentiment.
AUD/USD hit 0.9594 during late Asian trade, the pair's lowest since December 1; the pair subsequently consolidated at 0.9653, edging down 0.06%.
The pair was likely to find support at 0.9535, the low of December 1 and resistance at 0.9808, the high of September 30.
The Aussie came under pressure as risk sentiment was hit after Greek Prime Minister George Papandreou announced on Sunday that the country would not meet deficit targets this year, increasing expectations for an imminent default.
Meanwhile, finance ministers from the single currency bloc were to meet, later in the day to discuss options for increasing the capacity of the euro zone's rescue fund, the European Financial Stability Facility.
Over the weekend, Germany's finance minister Wolfgang Schnabel ruled out any chances of a higher contribution to the EFSF, beyond the already approved EUR211 billion.
Meanwhile, markets in Australia were closed on Monday, due to a national holiday.
Elsewhere, the Aussie was down against the New Zealand dollar with AUD/NZD shedding 0.21%, to trade at 1.2661.
Later in the day, the U.S. Institute of Supply Management was to publish data on manufacturing activity.
AUD/USD hit 0.9594 during late Asian trade, the pair's lowest since December 1; the pair subsequently consolidated at 0.9653, edging down 0.06%.
The pair was likely to find support at 0.9535, the low of December 1 and resistance at 0.9808, the high of September 30.
The Aussie came under pressure as risk sentiment was hit after Greek Prime Minister George Papandreou announced on Sunday that the country would not meet deficit targets this year, increasing expectations for an imminent default.
Meanwhile, finance ministers from the single currency bloc were to meet, later in the day to discuss options for increasing the capacity of the euro zone's rescue fund, the European Financial Stability Facility.
Over the weekend, Germany's finance minister Wolfgang Schnabel ruled out any chances of a higher contribution to the EFSF, beyond the already approved EUR211 billion.
Meanwhile, markets in Australia were closed on Monday, due to a national holiday.
Elsewhere, the Aussie was down against the New Zealand dollar with AUD/NZD shedding 0.21%, to trade at 1.2661.
Later in the day, the U.S. Institute of Supply Management was to publish data on manufacturing activity.