Investing.com - The New Zealand dollar edged up against its U.S. counterpart on Wednesday, pulling away from five-year lows but gains were expected to remain limited as demand for the greenback continued to be broadly supported.
NZD/USD hit 0.6874 during late Asian trade, the session high; the pair subsequently consolidated at 0.6865, adding 0.16%.
The pair was likely to find support at 0.6812, Tuesday's low and resistance at 0.6934, the high of June 22.
The greenback strengthened after the U.S. Commerce Department reported on Tuesday that new home sales jumped by 2.2% to 546,000 units last month, hitting the highest level since February 2008.
A separate report showed that total U.S. durable goods orders, which include transportation items, declined by 1.8% last month, while core durable goods orders inched up by 0.5% in May, missing forecasts for an increase of 0.6%.
The safe-haven U.S. dollar also remained broadly supported since euro zone finance ministers failed to reach agreement over Greece’s bailout at an emergency meeting on Monday.
Fresh talks were scheduled on Thursday, leaving just 48 hours for a detailed agreement to be finalized.
The new reform proposals from the Greek government prompted sharp criticism at home on Tuesday, with government and opposition MPs criticizing the plan.
The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.23% to 1.1260.