Investing.com - The New Zealand dollar moved higher against its U.S. counterpart on Monday, as investors locked in profits from the greenback’s recent gains and eyed the Federal Reserve’s upcoming policy meeting.
NZD/USD hit 0.6533 during late Asian trade, the session high; the pair subsequently consolidated at 0.6512, gaining 0.30%.
The pair was likely to find support at 0.6409, the low of January 21 and resistance at 0.6563, the high of January 21.
The greenback remained broadly supported by the diverging monetary policy stance between the Federal Reserve and other world central banks.
Investors were eyeing Wednesday’s Fed policy statement for any indication that the bank is considering slowing the path of interest rate increases this year.
The kiwi was also higher against the Australian dollar, with AUD/NZD edgind down 0.12% to 1.0767.
Earlier Monday, the National Australia Bank reported that its business confidence index fell to 3 in December from 5 the previous month.