AUD/USD steady, near fresh 4-1/2 week highs

The Australian dollar was steady against its U.S. counterpart on Wednesday, trading near fresh four-and-a-half month highs, supported by the release of positive Australian economic reports, while markets eyed the outcome of the Federal Reserve's policy meeting.

AUD/USD hit 0.9386 during late Asian trade, the pair's highest since November 20; the pair subsequently consolidated at 0.9361, inching up 0.03%.

The pair was likely to find support at 0.9266, Tuesday's low and resistance at 0.9442, the high of November 20.

Official data earlier showed that home loans in Australia rose 2.3% in February, beating expectations for a 2% increase, after a flat reading the previous month.

Separately, the Westpac Banking Corporation said consumer sentiment rose by 0.3% this month, after a 0.7% fall in March.

Meanwhile, investors were eyeing the minutes of the Fed's March meeting due out later in the trading day, after last week’s U.S. payrolls report came in slightly below expectations.

Fed Chair Janet Yellen said recently that slack in labor markets showed accommodative policies will still be needed for some time.

The Aussie was higher against the euro, with EUR/AUD slipping 0.14% to 1.4723.