Investing.com - The New Zealand rose against its U.S. counterpart on Wednesday, pulling away from one-year lows after the release of positive trade balance data from New Zealand, although Tuesday's strong U.S. manufacturing data continued to support demand for the greenback.
NZD/USD hit 0.8086 during late Asian trade, the session high; the pair subsequently consolidated at 0.8080, rising 0.37%.
The pair was likely to find support at 0.8040, Tuesday's low and a one-year low and resistance at 0.8172, the high of September 22.
Official data earlier showed that New Zealand's trade deficit narrowed to NZ$472 million last month from NZ$692 million in July. Analysts had expected the trade deficit to widen to NZ$1,275 million in August.
The report showed that exports rose by NZ$3.52 billion last month, beating expectations for an increase of NZ$3.15 billion.
Meanwhile, the greenback remained supported after data on Tuesday showed that the U.S. manufacturing sector expanded in September, matching the rate of growth seen in the previous month, which was the strongest in over four years.
The kiwi was higher against the euro, with EUR/NZD shedding 0.39% to 1.5900.
Later in the day, the U.S. was to release a report on new home sales.