Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Wednesday, as investors eyed the release of New Zealand trade balance data later in the day, while mixed U.S. data on Tuesday still weighed on the greenback.
NZD/USD hit 0.8601 during late Asian trade, the pair's highest since March 19; the pair subsequently consolidated at 0.8604, adding 0.36%.
The pair was likely to find support at 0.8533, Tuesday's low and resistance at 0.8638, the high of March 19.
Sentiment on the greenback remained fragile after data on Tuesday showed that U.S. consumer confidence improved more than expected in March, while a separate report showed that new home sales fell by the most in five months in February, indicating continued weakness in the housing sector.
The kiwi was lower against the Australian dollar, with AUD/NZD edging up 0.13% to 1.0703.
Also Wednesday, Reserve Bank of Australia Governor Glenn Stevens said the nation’s economy may strengthen later this year. Stevens added that this was helped by "the lower exchange rate since last April and the improved economic conditions overseas."
Earlier in the day, in its semi-annual financial stability review, the RBA warned property investors that the upswing in property prices fueled by record-low interest rates will not last forever and that it also has the potential to encourage speculative activity.
Later in the day, the U.S. was to release data on durable goods orders. New Zealand is to produce data on the trade balance.