Investing.com – The New Zealand dollar fell against its U.S. counterpart on Wednesday, falling from near a 1-month high, ahead of the release of key U.S. housing data.
NZD/USD clawed back up to 0.6952, shedding 0.5%, after falling from 0.6986, close to Tuesday's 1-month high, during European afternoon trade.
The pair was likely to find support at 0.6801, last Friday’s low and resistance at 0.7073, the high of May 17.
Earlier in the day, a report by Westpac Banking Corp. showed consumer confidence in New Zealand rebounded in the second quarter following a drop in the nation’s unemployment rate.
Meanwhile, the kiwi was up against the euro, with EUR/NZD shedding 0.06% to hit 1.7652.
Later in the day, the U.S. was to release a key report on building permits as well as data on housing starts, mortgage applications and industrial production. The U.S. Energy Information Administration, meanwhile, was also to publish data on crude oil inventories.
NZD/USD clawed back up to 0.6952, shedding 0.5%, after falling from 0.6986, close to Tuesday's 1-month high, during European afternoon trade.
The pair was likely to find support at 0.6801, last Friday’s low and resistance at 0.7073, the high of May 17.
Earlier in the day, a report by Westpac Banking Corp. showed consumer confidence in New Zealand rebounded in the second quarter following a drop in the nation’s unemployment rate.
Meanwhile, the kiwi was up against the euro, with EUR/NZD shedding 0.06% to hit 1.7652.
Later in the day, the U.S. was to release a key report on building permits as well as data on housing starts, mortgage applications and industrial production. The U.S. Energy Information Administration, meanwhile, was also to publish data on crude oil inventories.