Investing.com – New Zealand’s dollar hit a three-day low against its U.S. counterpart on Tuesday, tracking the flood hit Aussie lower and as investors sold the currency to lock in profits after recent steep gains.
NZD/USD hit 0.7674 during early European trade, the pair’s lowest since December 30; the pair subsequently consolidated at 0.7673, tumbling 0.73%.
The pair was likely to find support at 0.7534, the low of December 29 and resistance at 0.7783, Monday’s high.
The Australian dollar was undercut as huge floods in the state of Queensland severely curtailed coal exports and crop production and sparked concerns over the effect on the country’s economic output.
The kiwi was also down against the euro, with EUR/NZD climbing 0.64% to hit 1.7385.
Later Tuesday, the U.S. Federal Reserve was to publish the minutes of its most recent monetary policy meeting. The country was also to publish official data on factory orders.
NZD/USD hit 0.7674 during early European trade, the pair’s lowest since December 30; the pair subsequently consolidated at 0.7673, tumbling 0.73%.
The pair was likely to find support at 0.7534, the low of December 29 and resistance at 0.7783, Monday’s high.
The Australian dollar was undercut as huge floods in the state of Queensland severely curtailed coal exports and crop production and sparked concerns over the effect on the country’s economic output.
The kiwi was also down against the euro, with EUR/NZD climbing 0.64% to hit 1.7385.
Later Tuesday, the U.S. Federal Reserve was to publish the minutes of its most recent monetary policy meeting. The country was also to publish official data on factory orders.