Investing.com – New Zealand's dollar advanced against its U.S. counterpart on Monday, surging to hit a fresh 2-day high, tracking similar gains by the Australian dollar.
NZD/USD hit 0.7113 during European afternoon trade, the pair's highest since August 19; the pair subsequently consolidated at 0.7108, gaining 0.53%.
The pair was likely to find support at 0.7002, Friday's low and short-term resistance at 0.7155, the high of August 19.
Earlier in the day, Australia's dollar shrugged off Saturday's inconclusive Australian federal election results, which failed to produce a clear majority in parliament for the first time in 70 years.
The country's Prime Minister Julia Gillard and opposition leader Tony Abbott will have to engage in negotiations with independents in order to form a government.
The kiwi was also up against the euro, with EUR/NZD shedding 0.63% to hit 1.7173.
Later in the day, New Zealand was to produce key data on inflation expectations.
NZD/USD hit 0.7113 during European afternoon trade, the pair's highest since August 19; the pair subsequently consolidated at 0.7108, gaining 0.53%.
The pair was likely to find support at 0.7002, Friday's low and short-term resistance at 0.7155, the high of August 19.
Earlier in the day, Australia's dollar shrugged off Saturday's inconclusive Australian federal election results, which failed to produce a clear majority in parliament for the first time in 70 years.
The country's Prime Minister Julia Gillard and opposition leader Tony Abbott will have to engage in negotiations with independents in order to form a government.
The kiwi was also up against the euro, with EUR/NZD shedding 0.63% to hit 1.7173.
Later in the day, New Zealand was to produce key data on inflation expectations.