The Australian dollar spent Wednesday consolidating offshore gains that saw it touch a three-month peak on the euro, though broader progress was capped by stiff chart resistance and uncertainty over Europe. The Aussie was holding at $0.9946, having kept to a tight range since gaining half a cent overnight.
The currency has repeatedly failed to break above $1.0010/35 resistance in recent days, leaving bulls cautious. It had more luck on the embattled euro, which slid to around A$1.2540, the lowest since mid-March and a long way from recent highs above A$1.3000. The euro also fell to a six-week trough on the New Zealand dollar at NZ$1.6060.
The kiwi currency held firm on the US dollar at $0.7766, having touched a four-week high of $0.7789 in early trade. It has gained more than 0.7 percent in the past 24 hours. The Aussie and kiwi held gains on the yen. The Aussie was at 79.20 yen, not far from a three-week high of 79.71 struck last week. The kiwi was at 61.80 yen, in sight of the one-month high of 61.97 yen hit on Monday.
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