The Australian dollar edged higher against its U.S. counterpart on Tuesday, as investors eyed this week's European summit with hopes it will result in a viable solution to the region's deepening debt crisis.
AUD/USD hit 1.0493 during late Asian trade, the daily high; the pair subsequently consolidated at 1.0490, gaining 0.14%.
The pair was likely to find support at 1.0312, Monday's low and resistance at 1.0605, the high of September 6.
Risk sentiment was boosted after European leaders seemed closer on Sunday to a new plan to stem the region's financial woes. Euro zone officials neared a deal on bank recapitalization, while France and Germany advanced discussions on enhancing of the euro zone's bailout fund.
But divisions remained over Greek sovereign debt restructuring.
Meanwhile, the Australian Conference Board said that its leading index ticked down to minus 0.1% in August, from a flat reading the previous month.
Elsewhere, the Aussie was also higher against the euro with EUR/AUD shedding 0.10%, to trade at 1.3283.
Later in the day, the U.S. was to publish industry data on house price inflation as well as a report on consumer confidence.
AUD/USD hit 1.0493 during late Asian trade, the daily high; the pair subsequently consolidated at 1.0490, gaining 0.14%.
The pair was likely to find support at 1.0312, Monday's low and resistance at 1.0605, the high of September 6.
Risk sentiment was boosted after European leaders seemed closer on Sunday to a new plan to stem the region's financial woes. Euro zone officials neared a deal on bank recapitalization, while France and Germany advanced discussions on enhancing of the euro zone's bailout fund.
But divisions remained over Greek sovereign debt restructuring.
Meanwhile, the Australian Conference Board said that its leading index ticked down to minus 0.1% in August, from a flat reading the previous month.
Elsewhere, the Aussie was also higher against the euro with EUR/AUD shedding 0.10%, to trade at 1.3283.
Later in the day, the U.S. was to publish industry data on house price inflation as well as a report on consumer confidence.