Investing.com – The New Zealand dollar halted its decline against the greenback on Monday at 0.7109, after sinking in the wake of a disappointing report on New Zealand's housing market.
NZD/USD clawed back to 0.7128 during late European trade, still down 0.46%. During early Asian trade, the pair hit a 2-month high at 0.7194, its highest since Jan. 21
The pair was likely to find resistance at 0.7439, the high of Jan. 14, and support at 0.6965, last Tuesday's low.
Earlier Monday, an industry report showed that New Zealand house prices declined for the first time in 10 months in March, as high unemployment and tight credit discouraged buyers.
The kiwi slumped against sterling, meanwhile, with GBP/NZD rising 0.69% to reach 2.1614.
Later in the day, the United States was due to publish its federal budget balance, the difference in value between the federal government's income and spending.
NZD/USD clawed back to 0.7128 during late European trade, still down 0.46%. During early Asian trade, the pair hit a 2-month high at 0.7194, its highest since Jan. 21
The pair was likely to find resistance at 0.7439, the high of Jan. 14, and support at 0.6965, last Tuesday's low.
Earlier Monday, an industry report showed that New Zealand house prices declined for the first time in 10 months in March, as high unemployment and tight credit discouraged buyers.
The kiwi slumped against sterling, meanwhile, with GBP/NZD rising 0.69% to reach 2.1614.
Later in the day, the United States was due to publish its federal budget balance, the difference in value between the federal government's income and spending.