Investing.com - The Australian dollar rose to one-month highs against its U.S. counterpart on Wednesday, despite the release of downbeat consumer sentiment data from Australia as a positive Chinese trade balance report supported.
AUD/USD hit 0.9068 during late Asian trade, the pair''s highest since January 13; the pair subsequently consolidated at 0.9065, rising 0.32%.
The pair was likely to find support at 0.8907, Monday''s low and resistance at 0.9152, the high of December 11.
In a report, the Westpac Banking Corporation said consumer sentiment in Australia dropped 3% in February, after a 1.7% decline the previous month.
Meanwhile, data showed that Chinese exports jumped 10.6% in January from a year earlier, outstripping expectations for 2% gain, while imports jumped 10% and the trade surplus widened.
China is Australia''s biggest export partner.
In the U.S., Federal Reserve Chairwoman Janet Yellen told the House Financial Services Committee that the central bank would continue to gradually reduce the pace of its asset purchase program.
In her first Congressional testimony since her appointment as Fed Chair, Ms. Yellen also reiterated that Fed plans to hold interest rates at zero “well past” the time the jobless rate falls below 6.5%.
The Aussie was also higher against the euro, with EUR/AUD shedding 0.32% to 1.5044.
Please LIKE our Facebook page - it makes us stronger: