Investing.com - The New Zealand dollar fell against its U.S. counterpart on Tuesday, but losses were expected to remain limited as demand for the greenback remained under pressure after the previous session's weak U.S. data.
NZD/USD hit 0.6729 during late Asian trade, the session low; the pair subsequently consolidated at 0.6731, shedding 0.24%.
The pair was likely to find support at 0.6646, the low of October 29 and resistance at 0.6819, the high of October 27.
The greenback weakened after the Institute for Supply Management said on Monday that its index of purchasing managers fell to a more than two-year low of 50.1 last month from a reading of 50.2 in September.
Investors were turning their attention to Friday U.S. nonfarm payrolls report for indications on the likelihood of a December rate hike.
The Federal Reserve left rates on hold last week but indicated that it could still raise interest rates for the first time since 2006 at its December meeting.
The kiwi was sharply lower against the Australian dollar, with AUD/NZD jumping 1.01% to 1.0699.
Earlier Tuesday, the Reserve Bank of Australia left its benchmark interest rate unchanged at 2.0%, in a widely expected move.
Speaking after the decision, RBA Governor Glenn Stevens that "the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand.”