Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Forex - NZD/USD rises but upside seen limited

Published 10/22/2014, 02:56 AM
Updated 10/22/2014, 02:56 AM

Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Wednesday, but gains were expected to remain limited as Tuesday's upbeat U.S. data continued to lend support to the U.S. currency.

NZD/USD hit 0.7991 during late Asian trade, the session high; the pair subsequently consolidated at 0.7975, edging up 0.17%.

The pair was likely to find support at 0.7874, the low of October 17 and resistance at 0.8082, the high of September 25.

The greenback remained supported report by the National Association of Realtors on Tuesday showed that U.S. existing home sales rose to 5.17 million in September, the highest level of the year.

The kiwi was higher agains the Australian dollar, with AUD/NZD easing 0.09% to 1.1016.

Also Wednesday, official data showed that Australia's consumer price inflation rose 0.5% in the third quarter, more than the expected 0.4% increase, after a 0.5% gain in the three months to June.

Year-on-year, Australia's CPI rose 2.3% in the last quarter, in line with expectations, after an increase of 3.0% in the second quarter.

Later in the day, the U.S. was to produce data on consumer prices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.