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Forex - AUD/USD holds steady, near 1-month highs

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Investing.com -

Investing.com - The Australian dollar held steady near one-month highs against its U.S. counterpart on Wednesday, after the release of positive consumer sentiment data from Australia:

AUD/USD hit 0.9390 during late Asian trade, the pair's highest since May 15; the pair subsequently consolidated at 0.9377, inching up 0.05%.

The pair was likely to find support at 0.9319, the low of June 6 and resistance at 0.9409, the high of May 14.

In a report, the Westpac Banking Corporation sent consumer sentiment in Australia rose 0.2% in June, after a 6.8% decline the previous month.

Meanwhile, demand for the dollar remained supported by higher U.S. Treasury yields. The yield on the U.S. 10-year Treasury note rose to 2.64% on Tuesday, its highest in a month.

The Aussie was fractionally higher against the euro, with EUR/AUD easing 0.09% to 1.4438.

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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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