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Forex - AUD/USD hits 3-day high boosted by Greece optimism

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Forexpros - The Australian dollar rose to a three-day high against its U.S. counterpart on Wednesday, amid a growing sense of optimism that Greece's parliament would pass a vote on austerity measures and avert the euro zone's first sovereign debt default.

AUD/USD hit 1.0581 during late Asian trade, the pair's highest since June 24; the pair subsequently consolidated at 1.0579, gaining 0.37%.

The pair was likely to find support at 1.0434, Tuesday's low and resistance at 1.0649, the high of June 22 and a one-week high.

Later in the day, Greece's parliament was due to vote on a national austerity plan, needed to secure a EUR12 billion tranche of bailout funds from the European Union and International Monetary Fund.

Sentiment was also lifted after German lenders agreed to consider rolling over approximately EUR8 billion in Greek debt, provided there were assurances that the terms of the deal would not be seen by ratings agencies as putting Greece into default.

The Australian dollar was also higher against the yen, with AUD/JPY climbing 0.26% to hit 85.72.

Also Wednesday, the U.S. was to publish industry data on pending home sales.

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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.

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