Investing.com - The Australian dollar rose against its U.S. counterpart on Wednesday, after the release of positive consumer sentiment data out of Australia, while speculation over a near-term end to the Federal Reserve's stimulus program persisted.
AUD/USD hit 0.9498 during late Asian trade, the pair's highest since June 7; the pair subsequently consolidated at 0.9459, rising 0.36%.
The pair was likely to find support at 0.9326, Tuesday's low and a 20-month low and resistance at 0.9574, the high of June 7.
The Westpac Banking Corporation said consumer sentiment rose 4.7% in June, after a 7% decline the previous month.
Sentiment also found support after Germany's Finance Minister Wolfgang Schauble defended the European Central Bank’s bond purchasing scheme at a hearing in Germany’s constitutional court into the legality of the program on Tuesday.
But investors remained cautious amid ongoing speculation over whether the Fed will begin to unwind its easing program in the coming months.
The Aussie was higher against the euro with EUR/AUD shedding 0.35%, to hit 1.4073.
AUD/USD hit 0.9498 during late Asian trade, the pair's highest since June 7; the pair subsequently consolidated at 0.9459, rising 0.36%.
The pair was likely to find support at 0.9326, Tuesday's low and a 20-month low and resistance at 0.9574, the high of June 7.
The Westpac Banking Corporation said consumer sentiment rose 4.7% in June, after a 7% decline the previous month.
Sentiment also found support after Germany's Finance Minister Wolfgang Schauble defended the European Central Bank’s bond purchasing scheme at a hearing in Germany’s constitutional court into the legality of the program on Tuesday.
But investors remained cautious amid ongoing speculation over whether the Fed will begin to unwind its easing program in the coming months.
The Aussie was higher against the euro with EUR/AUD shedding 0.35%, to hit 1.4073.