Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Monday, but remained close to a six-month high as investors locked in profits after the Federal Reserve announced a long-awaited monetary easing plan to shore up U.S. growth.
NZD/USD hit 0.8274 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8283, edging down 0.10%.
The pair was likely to find support at 0.8198, the low of September 13 and resistance at 0.8353, the high of September 14 and a six-month high.
The kiwi rallied after the Fed announced last week that it would buy USD40 billion of mortgage-backed securities every month and would keep buying them until the job market improves.
The bank also said it expects to keep short-term interest rates at record low levels through at least mid-2015, six months longer than previously anticipated.
Market sentiment also remained suppported after the European Central Bank unveiled its own bond purchasing program, dubbed Outright Monetary Transactions, and as Germany’s Constitutional Court allowed the euro zone’s permanent rescue fund to move forward.
In New Zealand, the Westpac Banking Corporation said earlier that its index of consumer sentiment rose to 102.5 in the thrid quarter, from a reading of 99.9 in the previous quarter.
Elsewhere, the kiwi was fractionally lower against the euro with EUR/NZD adding 0.09%, to hit 1.5847.
Later in the day, the U.S. was to publish an index of manufacturing activity in the New York area.
NZD/USD hit 0.8274 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8283, edging down 0.10%.
The pair was likely to find support at 0.8198, the low of September 13 and resistance at 0.8353, the high of September 14 and a six-month high.
The kiwi rallied after the Fed announced last week that it would buy USD40 billion of mortgage-backed securities every month and would keep buying them until the job market improves.
The bank also said it expects to keep short-term interest rates at record low levels through at least mid-2015, six months longer than previously anticipated.
Market sentiment also remained suppported after the European Central Bank unveiled its own bond purchasing program, dubbed Outright Monetary Transactions, and as Germany’s Constitutional Court allowed the euro zone’s permanent rescue fund to move forward.
In New Zealand, the Westpac Banking Corporation said earlier that its index of consumer sentiment rose to 102.5 in the thrid quarter, from a reading of 99.9 in the previous quarter.
Elsewhere, the kiwi was fractionally lower against the euro with EUR/NZD adding 0.09%, to hit 1.5847.
Later in the day, the U.S. was to publish an index of manufacturing activity in the New York area.