Investing.com - The New Zealand dollar pushed higher against its U.S. counterpart on Monday, after the release of consumer confidence data, but gains remained capped in quiet trade.
NZD/USD hit 0.8278 during late Asian trade, the pair’s highest since March 8; the pair subsequently consolidated at 0.8262, gaining 0.24%.
The pair was likely to find support at 0.8176, Friday’s low and resistance at 0.8306, the high of March 5.
The New Zealand dollar found some support after a report showed that the Westpac index of consumer sentiment rose to 102.4 in the first quarter from 101.3 in the last three months of 2011.
Consumer confidence remained subdued in the first quarter amid lingering concerns over the outlook for the economy and price increases the report said.
The kiwi was fractionally higher against its Australian cousin but slipped against the yen, with AUD/NZD dipping 0.05% to hit 1.2834 and NZD/JPY shedding 0.15% to hit 68.65.
Also Monday, Reserve Bank of Australia Governor Glenn Stevens said the outlook for the global economy had improved but warned that downside risks still remained.
NZD/USD hit 0.8278 during late Asian trade, the pair’s highest since March 8; the pair subsequently consolidated at 0.8262, gaining 0.24%.
The pair was likely to find support at 0.8176, Friday’s low and resistance at 0.8306, the high of March 5.
The New Zealand dollar found some support after a report showed that the Westpac index of consumer sentiment rose to 102.4 in the first quarter from 101.3 in the last three months of 2011.
Consumer confidence remained subdued in the first quarter amid lingering concerns over the outlook for the economy and price increases the report said.
The kiwi was fractionally higher against its Australian cousin but slipped against the yen, with AUD/NZD dipping 0.05% to hit 1.2834 and NZD/JPY shedding 0.15% to hit 68.65.
Also Monday, Reserve Bank of Australia Governor Glenn Stevens said the outlook for the global economy had improved but warned that downside risks still remained.