The Australian dollar eased a fraction on Tuesday as the market held its breath ahead of a ruling on the euro zone's bailout fund and a US Federal Reserve policy decision that could set the path for global markets for weeks to come. The Aussie marked time at $1.0328, from $1.0332 in New York and $1.0401 on Friday, its highest since August 27.
The Aussie dollar remains broadly well supported thanks to a global yield hunt, particularly from central banks and sovereign funds from far a field. The common currency has made hefty gains against both the Aussie and kiwi, rising around 6 percent since early August, as investors trimmed their massive short euro positions.
It was last at A$1.2355, nearing a two-month peak of A$1.2390 hit last week. Charts show a positive trend as long as the euro keeps above the 10-day MA, a level it has been holding since mid-August. Resistance is seen around A$1.2390, ahead of A$1.2438, the 200-day MA. Against the kiwi, the euro was last at NZ$1.5768, off NZ$1.5903, its strongest since late June. The New Zealand dollar consolidated at $0.8096, from $0.8120 in late local trade on Monday, when it touched a two-week high of $0.8134.