Investing.com - The New Zealand dollar rose to one-month highs against its U.S. counterpart in subdued trade on Monday, as the previous day's soft U.S. housing sector data continued to weigh on the greenback.
NZD/USD hit 0.8007 during late Asian trade, the pair's highest since June 19; the pair subsequently consolidated at 0.7994, gaining 0.29%.
The pair was likely to find support at 0.7909, Monday's low and resistance at 0.8054, the high of June 19.
The greenback remained under pressure after data showing that U.S. existing home sales fell unexpectedly in June dampened expectations that the Federal Reserve will start scaling back its asset purchase program this year.
The National Association of Realtors said that existing home sales fell 1.2% to an annual rate of 5.08 million units in June, but still remained close to three-and-a-half year highs.
The kiwi was higher against the Australian dollar with AUD/NZD edging down 0.19%, to hit 1.1581.
NZD/USD hit 0.8007 during late Asian trade, the pair's highest since June 19; the pair subsequently consolidated at 0.7994, gaining 0.29%.
The pair was likely to find support at 0.7909, Monday's low and resistance at 0.8054, the high of June 19.
The greenback remained under pressure after data showing that U.S. existing home sales fell unexpectedly in June dampened expectations that the Federal Reserve will start scaling back its asset purchase program this year.
The National Association of Realtors said that existing home sales fell 1.2% to an annual rate of 5.08 million units in June, but still remained close to three-and-a-half year highs.
The kiwi was higher against the Australian dollar with AUD/NZD edging down 0.19%, to hit 1.1581.