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Forex - NZD/USD re-approaches 3-1/2 month highs in late trade

Published 20/10/2015, 05:35 pm
Kiwi moves higher vs. broadly weaker greenback
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Investing.com - The New Zealand dollar rose against its U.S. counterpart on Tuesday, re-approaching three-and-a-half month highs as demand for the greenback remained mostly under pressure.

NZD/USD hit 0.6816 during late Asian trade, the session high; the pair subsequently consolidated at 0.6806, rising 0.23%.

The pair was likely to find support at 0.6669, the low of October 12 and resistance at 0.6904, the high of October 15.

The greenback remained under pressure after a batch of U.S. data last week painted a mixed picture of the country's economy and fuelled further uncertainty over when the Federal Reserve plans to raise interest rates.

The kiwi was lower against the Australian dollar, with AUD/NZD adding 0.16% to 1.0691.

Earlier Tuesday, in the minutes of its October policy meeting, the Reserve Bank of Australia said the Aussie's depreciation and low interest rates have helped the local economy rebalance.

The comments staved off any expectations for a rate hike by the RBA in the near future.

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