Forex - AUD/USD slips lower after downbeat Australia data

A A A - The Australian dollar slipped lower against its U.S. counterpart on Wednesday, weighed by downbeat consumer sentiment data out of Australia, while uncertainty over the future of the Federal Reserve's stimulus program dented demand for the greenback.

AUD/USD hit 0.9123 during late Asian trade, the session low; the pair subsequently consolidated at 0.9117, shedding 0.36%.

The pair was likely to find support at 0.9071, the low of September 9 and resistance at 0.9196, the high of November 25.

In a report, the Westpac Banking Corporation said consumer sentiment in Australia declined 4.8% in December, after a 1.9% increase the previous month.

Meanwhile, the greenback remained under pressure amid expectations that the Fed will hold off on tapering its USD85 billion-a-month asset purchase program at its upcoming policy meeting scheduled for December 17-18, despite last week's stronger-than-forecast U.S. nonfarm payrolls report.

The Aussie was lower against the euro, with EUR/AUD rising 0.42% to 1.5103. offers an extensive set of professional tools for the financial markets.
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This article appears in: Investing , Forex and Currencies

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