AUD/USD Higher Amid Greece Austerity Debates |
– The Australian dollar was higher against its U.S. counterpart on Thursday, as Greece’s parliament was preparing to debate important legal changes ahead of a massive debt restructuring.
AUD/USD hit 1.0674 during late Asian trade, the daily high; the pair subsequently consolidated at 1.0663, rising 0.25%.
The pair was likely to find support at 1.0568, the low of February 1 and resistance at 1.0737, the high of February 14.
The legislation, to be put to vote later Thursday, was part of the new EUR130 bailout deal approved by euro zone leaders earlier in the week to put the country back in a position to reach a sustainable debt level by 2020.
But investors were jittery amid concerns over whether the bailout for Greece will be enough to resolve the country’s fiscal woes and after ratings agency Fitch cut Greece’s credit rating to C from CCC while reiterating that a bond-swap agreement with private creditors would be a restricted default.
Elsewhere, the Aussie was fractionally higher against the euro with EUR/AUD edging down 0.07%, to hit 1.2447.
Later in the day, the U.S. was to release government data on unemployment claims.
