Investing.com - The New Zealand dollar edged higher against its U.S. counterpart on Tuesday, even as data showed that New Zealand business confidence slightly deteriorated in the last quarter, while demand for the greenback continued to be broadly supported.
NZD/USD hit 0.7486 during late Asian trade, the session high; the pair subsequently consolidated at 0.7465, adding 0.15%.
The pair was likely to find support at 0.7391, the low of April 1 and resistance at 0.7538, Monday's high.
The New Zealand Institute of Economic Research earlier reported that its business confidence index ticked down to 23 in the first quarter of 2015 from 24 in the three months to December, whose figure was revised from a previously estimated reading of 23.
Meanwhile, demand for the greenback remained broadly supported by expectations for higher interest rates, as investors regained confidence that the U.S. economy would continue to recover after recent economic reports pointed to a slowdown at the start of the year.
The kiwi was higher against the Australian dollar, with AUD/NZD edging down 0.12% to 1.0169.
Also Tuesday, the National Australia Bank said its business confidence index rose to 3 in March from a reading of zero the previous month.
Later in the day, the U.S. was to release data on retail sales and producer prices.