Investing.com

Investing.com - The Australian dollar declined against its U.S. counterpart on Wednesday, after relatively positive Australian data, as Tuesday''s upbeat U.S. retail sales report continued to lend support to the greenback.



AUD/USD hit 0.8904 during late Asian trade, the pair''s lowest since January 10; the pair subsequently consolidated at 0.8911, retreating 0.60%.



The pair was likely to find support at 0.8843, the low of January 2 and resistance at 0.9005, the high of January 10.



In Australia, data on Wednesday showed that new motor vehicle sales rose 1.7% in December, after an upwardly revised 2.1% increase the previous month.



Meanwhile, the greenback remained supported after the Commerce Department said Tuesday that U.S. retail sales rose 0.2% in December, while core retail sales, which excludes auto sales, rose 0.7%.



The data helped bolster expectations that the economic recovery in the U.S. will continue to deepen this year and offset concerns over last week’s surprising poor nonfarm payrolls report for December.



The Aussie was lower against the euro, with EUR/AUD rising 0.34% to 1.5308.



Later in the day, the U.S. was to publish reports on consumer price inflation and initial jobless claims, in addition to data on manufacturing activity in Philadelphia.







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