Investing.com - The New Zealand dollar held steady against its U.S. counterpart on Wednesday, after the release of disappointing New Zealand current account data as markets eyed the Federal Reserve's upcoming policy statement.
NZD/USD hit 0.8172 during late Asian trade, the session low; the pair subsequently consolidated at 0.8195, easing 0.06%.
The pair was likely to find support at 0.8121, the low of September 15 and resistance at 0.8266, the high of September 10.
Official data showed that New Zealand's current account deficit narrowed to NZ$1.06 billion in the second quarter, from NZ$1.41 billion in the three months to April. Analysts had expected the current account deficit to narrow to NZ$0.95 billion in the last quarter.
Meanwhile, demand for the greenback remained supported by expectations for an early hike in U.S. interest rates.
The Fed was expected to cut its asset purchase program by another $10 billion at its upcoming policy meeting on Wednesday, which would keep it on track for winding up the program in October, and to start raising interest rates sometime in mid-2015.
The kiwi was little changed against the euro, with EUR/NZD dipping 0.01% to 1.5808.