Investing.com

Investing.com - The Australian dollar was higher against its U.S. counterpart on Wednesday, as sentiment on the greenback remained fragile ahead of the Federal Reserve''s monthly policy statement, due later in the day.



AUD/USD hit 0.9289 during late Asian trade, the pair''s highest since Monday; the pair subsequently consolidated at 0.9281, rising 0.16%.



The pair was likely to find support at 0.9206, the low of April 3 and resistance at 0.9377, the high of April 23.



In its monthly policy statement, the Fed was expected to stick to its current timetable for tapering its asset purchase program.



The greenback remained mildly supported after data on Tuesday showed that U.S. consumer confidence dipped this month but remained close to recent highs. The Conference Board said its consumer confidence index fell to 82.3 in April from a revised 83.9 in March, the highest level since January 2008. Analysts had expected the index to fall to 83.0.



The Aussie was fractionally higher against the New Zealand dollar, with AUD/NZD edging up 0.17% to 1.0855.



Also Wednesday, official data showed that building consents in New Zealand rose 8.3% last month, compared to expectations for a 2.0% increase, after a 1.7% drop in February.



A separate report showed that the ANZ business confidence index for New Zealand ticked down to 64.8 in April, from a reading of 67.3 in March.



Later in the day, the U.S. was to release preliminary data on first quarter gross domestic product, as well as the ADP report on private sector job creation and data on manufacturing activity in the Chicago region.





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