AUD/USD rises to 1-week high on strong Australian data

The Australian dollar rose to a one-week high against its U.S. counterpart on Wednesday, after the release of positive Australian data, although investors remained cautious ahead of a G20 summit.

AUD/USD hit 1.0361 during late Asian trade, the pair's highest since February 6; the pair subsequently consolidated at 1.0348, advancing 0.40%.

The pair was likely to find support at 1.0297, the low of February 6 and a two-and-a-half month low and resistance at 1.0400, the high of February 6.

In a report, the Westpac Banking Corporation said that consumer sentiment in Australia rose 7.7% in February, after a 0.60% rise the previous month.