Investing.com - The Australian dollar was steady against its U.S. counterpart on Wednesday, after the release of downbeat Australian construction data, while Thursday''s disappointing U.S. data continued to weigh on the greenback.
AUD/USD hit 0.8970 during late Asian trade, the pair''s lowest since Monday; the pair subsequently consolidated at 0.9014, dipping 0.07%.
The pair was likely to find support at 0.8874, the low of February 5 and resistance at 0.9086, the high of January 13.
Official data earlier showed that construction work done in Australia fell 1% in the fourth quarter, compared to expectations for a 0.7% rise. Construction work done in the three months to September was revised up to a 3% increase from a previously estimated 2.7% gain.
In the U.S., the Conference Board reported Tuesday that its consumer confidence index declined to 78.1 in February, from a downwardly revised 79.4 last month, amid concerns over the short-term outlook for business conditions, jobs, and earnings.
A recent series of disappointing U.S. economic indicators have sparked concerns that the recovery has lost momentum since the end of last year.
The Aussie was little changed against the euro, with EUR/AUD easing up 0.06% to 1.5248.
Later in the day, the U.S. was to release data on new home sales.
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