(MENAFN- FxPro) The Australian dollar was higher against its U.S. counterpart on Thursday, as mounting optimism that Greece will find a deal with its creditors this week, lifting market sentiment.
AUD/USD hit 0.7770 during late Asian trade, the session high; the pair subsequently consolidated at 0.7727, gaining 0.32%.
The pair was likely to find support at 0.7680, Wednesday's low and resistance at 0.7799, the high of June 22.
Late night talks between Greek Prime Minister Alexis Tsipras, the European Commission, the European Central Bank and the International Monetary Fund ended without agreement on Wednesday.
Discussions were expected to resume in Brussels on Thursday morning, ahead of a Eurogroup meeting of euro zone finance ministers scheduled later in the day.
Tsipras had told associates on Wednesday that some of Greece's latest proposed reform measures had not been accepted by creditors.
Greece has to repay ‚¬ 1.6 billion to the IMF on June 30 or face going into default, which could trigger the country's exit from the euro area.
The greenback still remained supported however, after the Commerce Department reported on Wednesday that U.S. gross domestic product contracted at a rate of 0.2% in the three months ending March 31, in line with expectations and compared to a previous estimate of a 0.7% contraction.
The positive data added to speculation that the Federal Reserve could raise interest rates as soon as September.
Market participants were looking to data on U.S. personal spending and jobless claims due later in the day, for further indications on the strength of the economy.
The Aussie was also higher against the euro, with EUR/AUD sliding 0.47% to 1.4477.
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