Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Tuesday, as investors remained cautious ahead of the Federal Reserve's two-day policy meeting, due to begin later in the day.
NZD/USD hit 0.8258 during late Asian trade, the pair's lowest since October 10; the pair subsequently consolidated at 0.8263, shedding 0.48%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8338, the high of October 25.
The Fed was not expected to announce any change to the rate of its USD85 billion-a-month asset purchase program after its meeting on Wednesday. The U.S. central bank was instead expected to delay plans to start tapering stimulus until well into next year.
Data released on Monday showed that U.S. industrial production rose 0.6% in September, coming in above expectations for a 0.4% rise.
However, a separate report showed that U.S. pending home sales fell 5.6% in September, down for the fourth consecutive month.
The kiwi was higher against the Australian dollar with AUD/NZD slipping 0.15%, to hit 1.1512.
The Aussie came under pressure after Reserve Bank of Australie Governor Glenn Stevens said the currency's level isn’t supported by costs and productivity in the economy and the nation’s terms of trade are more likely to fall than rise.
Later in the day, the U.S. was to produce data on retail sales and producer price inflation, as well as a report on consumer confidence.
NZD/USD hit 0.8258 during late Asian trade, the pair's lowest since October 10; the pair subsequently consolidated at 0.8263, shedding 0.48%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8338, the high of October 25.
The Fed was not expected to announce any change to the rate of its USD85 billion-a-month asset purchase program after its meeting on Wednesday. The U.S. central bank was instead expected to delay plans to start tapering stimulus until well into next year.
Data released on Monday showed that U.S. industrial production rose 0.6% in September, coming in above expectations for a 0.4% rise.
However, a separate report showed that U.S. pending home sales fell 5.6% in September, down for the fourth consecutive month.
The kiwi was higher against the Australian dollar with AUD/NZD slipping 0.15%, to hit 1.1512.
The Aussie came under pressure after Reserve Bank of Australie Governor Glenn Stevens said the currency's level isn’t supported by costs and productivity in the economy and the nation’s terms of trade are more likely to fall than rise.
Later in the day, the U.S. was to produce data on retail sales and producer price inflation, as well as a report on consumer confidence.