Investing.com - The Australian dollar rose against its U.S. counterpart on Wednesday, boosted by upbeat Chinese second quarter growth data and as Greece's new bailout deal continued to support market sentiment.
AUD/USD hit 0.7489 during late Asian trade, the pair's highest since July 10; the pair subsequently consolidated at 0.7468, gaining 0.20%.
The pair was likely to find support at 0.7388, Tuesday's low and resistance at 0.7506, the high of July 7.
Official data earlier showed that China gross domestic product rose by 7.0% in the second quarter, beating expectations for a growth rate of 6.9%.
China is Australia's biggest export partner.
In Australia, the Westpac Banking Corporation reported on Wednesday that its consumer sentiment index fell 3.2% in July after a decline of 6.9% the previous month.
Meanwhile, sentiment remained supported after euro zone leaders reached a unanimous agreement on a third bailout deal for Greece on Monday, following marathon weekend-long talks.
Investors remained cautious however as Greece's government on Tuesday submitted the bailout terms demanded by eurozone creditors to parliament and as Prime Minister Alexis Tsipras battled for support for the reforms from his ruling anti-austerity Syriza party.
Four pieces of legislation must be passed by the end of the day on Wednesday, including pension and sales tax reforms.
The Aussie was also higher against the euro, with EUR/AUD shedding 0.28% to 1.4730.