The Australian and New Zealand dollars edged higher on Wednesday, following gains in some Asian currencies after Japan and South Korea agreed to bolster their currency swap arrangements in a bid to help ease market tension. The Aussie climbed to $1.0316, eyeing a one-month high of $1.0372 set on Monday. It had been consolidating since rallying some 10 percent from a one-year trough of $0.9388 on October 4.
The Aussie, however, faces a number of resistance levels, starting with Monday's high, then $1.0384, the 200-day moving average. The New Zealand dollar also drifted higher to $0.7985 from a session low around $0.7932.