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Forex - AUD/USD almost unchanged after Australian data

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Investing.com -

Investing.com - The Australian dollar was almost unchanged against its U.S. counterpart on Monday, after the release of disappointing data from Australia and as geopolitical tensions continued to support safe haven demand.

AUD/USD hit 0.9309 during late Asian trade, the session low; the pair subsequently consolidated at 0.9319, dipping 0.01%.

The pair was likely to find support at 0.9298, the low of August 15 and resistance at 0.9358, the high of August 7.

Official data showed that new motor vehicle sales in Australia dropped 1.3% last month, after a 1.7% increase in June.

Meanwhile, investors remained cautious as tensions over the crisis in Ukraine escalated on Friday following reports that Ukraine's military attacked and destroyed a number of armored vehicles that entered the country from Russia.

The Aussie was higher against the euro, with EUR/AUD slipping 0.11% to 1.4363.

Later in the day, the U.S. was to produce private sector data on the housing market.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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