Investing.com - The Australian dollar rose against its U.S. counterpart on Wednesday, as demand for the greenback weakened ahead of the minutes of the Federal Reserve's latest policy meeting, expected later in the day.
AUD/USD hit 0.7680 during late Asian trade, the session high; the pair subsequently consolidated at 0.7669, rising 0.48%.
The pair was likely to find support at 0.7573, Tuesday's low and resistance at 0.7761, the high of March 30.
Market participants were eyeing the Fed's upcoming meeting minutes for indications on the central bank's next policy moves after Friday's downbeat jobs data fuelled uncertainty over the timing of a rate hike.
The Labor Department reported Friday that the U.S. economy added 126,000 new jobs in March, less than half of February’s gain and the smallest increase since December 2013.
The Australian dollar had found strong support on Tuesday after the Reserve Bank of Australia held its benchmark interest rate at 2.25% on Tuesday, in a widely expected decision.
In addition, the Australian Bureau of Statistics reported Tuesday that retail sales rose 0.7% in February, exceeding expectations for a 0.4% gain.
The Aussie was also higher against the euro, with EUR/AUD shedding 0.22% to 1.4137.