Investing.com - The New Zealand dollar edged higher against its U.S. counterpart on Wednesday, as markets awaited the conclusion of the Federal Reserve's policy meeting, expected later in the day.
NZD/USD hit 0.8272 during late Asian trade, the session high; the pair subsequently consolidated at 0.8269, edging up 0.18%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8338, the high of October 25.
The greenback was mildly supported by the view that markets have already priced in expectations that the Fed will make no changes to its USD85 billion-a-month asset purchase program on Wednesday.
Many investors expect the Fed to maintain its stimulus program well into the first quarter of next year, in order to safeguard the fragile economic recovery in the wake of this month’s 16-day government shutdown.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.10%, to hit 1.1489.
Also Wednesday, industry data showed that new home sales in Australia rose 6.4% in September, after a 3.4% increase the previous month.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls and official data on consumer price inflation.
NZD/USD hit 0.8272 during late Asian trade, the session high; the pair subsequently consolidated at 0.8269, edging up 0.18%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8338, the high of October 25.
The greenback was mildly supported by the view that markets have already priced in expectations that the Fed will make no changes to its USD85 billion-a-month asset purchase program on Wednesday.
Many investors expect the Fed to maintain its stimulus program well into the first quarter of next year, in order to safeguard the fragile economic recovery in the wake of this month’s 16-day government shutdown.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.10%, to hit 1.1489.
Also Wednesday, industry data showed that new home sales in Australia rose 6.4% in September, after a 3.4% increase the previous month.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls and official data on consumer price inflation.