Investing.com - The New Zealand dollar rose against its U.S. counterpart on Tuesday, but demand for the greenback remained supported by expectations for the Federal Reserve to soon begin scaling back its asset purchases, while markets eyed New Zealand trade balance data later in the day.
NZD/USD hit 0.8262 during late Asian trade, the pair's highest since November 21; the pair subsequently consolidated at 0.8252, climbing 0.54%.
The pair was likely to find support at 0.8176, the low of November 21 and resistance at 0.8342, the high of November 15.
Investors consolidated their positions following sharp gains in the past several days, but the greenback remained supported after last week’s minutes of the Fed’s October meeting said the bank could start tapering its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.
The kiwi was higher against the Australian dollar with AUD/NZD edging down 0.24%, to hit 1.1129.
Later in the day, the U.S. was to produce data on building permits, as well as private sector data on consumer confidence and house price inflation. New Zealand was to release data on the trade balance.
NZD/USD hit 0.8262 during late Asian trade, the pair's highest since November 21; the pair subsequently consolidated at 0.8252, climbing 0.54%.
The pair was likely to find support at 0.8176, the low of November 21 and resistance at 0.8342, the high of November 15.
Investors consolidated their positions following sharp gains in the past several days, but the greenback remained supported after last week’s minutes of the Fed’s October meeting said the bank could start tapering its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.
The kiwi was higher against the Australian dollar with AUD/NZD edging down 0.24%, to hit 1.1129.
Later in the day, the U.S. was to produce data on building permits, as well as private sector data on consumer confidence and house price inflation. New Zealand was to release data on the trade balance.