Investing.com - The New Zealand dollar rose against its U.S. counterpart on Tuesday, supported by the release of upbeat business confidence data out of New Zealand, although the greenback remained supported by Friday's strong U.S. employment report.
NZD/USD hit 0.7822 during late Asian trade, the pair's highest since July 4; the pair subsequently consolidated at 0.7871, climbing 0.89%.
The pair was likely to find support at 0.7710, the low of July 3 and resistance at 0.7923, the high of June 10.
A report earlier showed that New Zealand's NZIER business confidence index rose to 32 in the second quarter, from a reading of 23 in the previous quarter.
Meanwhile, demand for the U.S. dollar remained supported after data last week showed that the U.S. economy added 195,000 jobs in June, more than the 165,000 increase forecast by economists.
Federal Reserve Chairman Ben Bernanke said last month the bank could begin tapering its USD85 billion-a-month asset purchase program by the end of 2013 if the economy picks up as the central bank expects.
The kiwi was almost unchanged against the Australian dollar with AUD/NZD easing 0.04%, to hit 1.1700.
Also Tuesday, data showed that Australia's NAB business confidence index rose to zero in June, from a reading of minus 1 the previous month.
NZD/USD hit 0.7822 during late Asian trade, the pair's highest since July 4; the pair subsequently consolidated at 0.7871, climbing 0.89%.
The pair was likely to find support at 0.7710, the low of July 3 and resistance at 0.7923, the high of June 10.
A report earlier showed that New Zealand's NZIER business confidence index rose to 32 in the second quarter, from a reading of 23 in the previous quarter.
Meanwhile, demand for the U.S. dollar remained supported after data last week showed that the U.S. economy added 195,000 jobs in June, more than the 165,000 increase forecast by economists.
Federal Reserve Chairman Ben Bernanke said last month the bank could begin tapering its USD85 billion-a-month asset purchase program by the end of 2013 if the economy picks up as the central bank expects.
The kiwi was almost unchanged against the Australian dollar with AUD/NZD easing 0.04%, to hit 1.1700.
Also Tuesday, data showed that Australia's NAB business confidence index rose to zero in June, from a reading of minus 1 the previous month.