Investing.com - The Australian dollar slipped lower against its U.S. counterpart on Tuesday, but still remained within close distance of a two-and-a-half month high as Monday''s strong Chinese data continued to support.
AUD/USD hit 0.9418 during late Asian trade, the session low; the pair subsequently consolidated at 0.9409, slipping 0.16%.
The pair was likely to find support at 0.9375, the low of June 22 and resistance at 0.9461.
A report on Monday showed that China’s HSBC manufacturing PMI came in at 50.8 in June, the first time the index rose above the 50 level separating growth from contraction in six months.
The greenback found some support however, after data showed that U.S. manufacturing activity grew at the fastest rate in four years in June, with the Markit manufacturing purchasing managers’ index rising to 57.5 from 56.4 in May.
The Aussie was lower against the euro, with EUR/AUD rising 0.20% to 1.4465.
Later in the day, the U.S. was to release private sector data on consumer confidence, as well as a report on new home sales.