Australian dollar was on higher levels against its US counterpart on Wednesday, but gains were capped as support for the US dollar was strong after the positive US data on Tuesday.
AUD/USD reached 0.9282 at 7:02 GMT, currently the session high. The cross was up by 0.23% for the day. Support was likely to be received at June 24th low and a more than two-year low, 0.9148, while resistance was expected at June 19th high, 0.9557.
US Department of Commerce reported on Tuesday, that Durable Goods Orders in the United States rose by 3.6% in May, exceeding forecasts of a 3.0% increase rate, and confirming the rate, registered during April.
Another report showed, that S&P/Case-Shiller Composite-20 Home Price Index in US registered a 12.05% jump in April on annual basis, as this was the sharpest rate of increase since the beginning of statistical research and above expectations of a 10.60% increase.
In addition, New Home Sales in the United States registered their highest level in May for the past five years, climbing by 2.1% in May to reach the annual 0.476 million units.
Last but not least, it became clear that US Consumer Confidence increased to the highest level since January 2008 in June, reaching the reading of 81.4, far above expectations of a value at 75.0.
Meanwhile, fears over a credit squeeze in China were eased, after the country’s central bank indicated on Tuesday, that its actions meant to support financial institutions with liquidity. China is Australias largest partner in trade.
Aussie advanced against the euro as well, as EUR/AUD cross dropped by 0.21% to 1.4094.
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