Investing.com - The Australian dollar edged lower against its U.S. counterpart on Monday, as market sentiment weakened amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.
AUD/USD hit 0.9172 during late Asian trade, the session low; the pair subsequently consolidated at 0.9184, falling 0.15%.
The pair was likely to find support at 0.9087, the low of August 9 and resistance at 0.9318, the high of July 24.
The greenback came under pressure against the other major currencies last week after the latest U.S. jobs report on August 2 showed that the economy added fewer jobs than expected in July.
The disappointing data saw investors reassess expectations for when the U.S. central bank would start to taper its asset purchase program.
Investors were looking ahead to Tuesday’s retail sales report, as well as speeches by senior Fed officials later in the week.
The Aussie was steady against the euro with EUR/AUD inching down 0.01%, to hit 1.4506.
AUD/USD hit 0.9172 during late Asian trade, the session low; the pair subsequently consolidated at 0.9184, falling 0.15%.
The pair was likely to find support at 0.9087, the low of August 9 and resistance at 0.9318, the high of July 24.
The greenback came under pressure against the other major currencies last week after the latest U.S. jobs report on August 2 showed that the economy added fewer jobs than expected in July.
The disappointing data saw investors reassess expectations for when the U.S. central bank would start to taper its asset purchase program.
Investors were looking ahead to Tuesday’s retail sales report, as well as speeches by senior Fed officials later in the week.
The Aussie was steady against the euro with EUR/AUD inching down 0.01%, to hit 1.4506.