Forex - AUD/USD slips but remains near 4-1/2 month highs
Investing.com
Published Apr 07, 2014 02:48AM ET
Aussie edges lower vs. greenback but remains supported
Investing.com - The Australian dollar edged lower against its U.S. counterpart on Monday, but remained within close distance of a four-and-a-half month high, while disappointing U.S. employment data on Friday continued to weigh on the greenback.
AUD/USD hit 0.9272 during late Asian trade, the session low; the pair subsequently consolidated at 0.9281, slipping 0.11%.
The pair was likely to find support at 0.9206, the low of April 3 and resistance at 0.9334, the high of November 21.
Sentiment on the greenback remained fragile after data on Friday showed that the U.S. economy added 192,000 jobs in March, below expectations for jobs growth of 200,000. The U.S. unemployment rate remained unchanged at 6.7%, compared to expectations for a downtick to 6.6%.
Although the data disappointed market expectations, it still seemed to indicate that the Federal Reserve will maintain the current pace of reductions to its asset purchase program.
In Australia, industry data earlier showed that job advertisements rose by 1.4% in March, after a 4.7% increase in February, whose figure was revised down from a previously estimated 5.1% gain.
The Aussie was lower against the euro, with EUR/AUD adding 0.11% to 1.4768.
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Written By: Investing.com
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