COZforex: The New Zealand dollar was steady against its US counterpart on Tuesday, as investors remained cautious ahead of the release of US economic reports later in the trading session.

NZD/USD hit 0.8345 amid late Asian trade, the pair's highest since February 18; the pair subsequently consolidated at 08332, inching up 0.01%. COZforex senior currency strategist Ian Quigley said, NZD/USD was likely to find support at 0.8266, the low of February 21 and resistance at 0.8393, the high of February 17.

Earlier Tuesday, the Reserve Bank of New Zealand said inflation expectations remained unchanged at 2.3% in the last quarter.

Meanwhile, investors were eyeing US reports on house price inflation and consumer confidence for further indications on the outlook for growth.

A recent series of disappointing US economic indicators, including reports on jobs growth, retail sales and housing, have sparked concerns that the economic recovery has lost momentum since the end of last year.

The kiwi was fractionally lower against the euro, with EUR/NZD adding 0.07% to 1.6500.


(COZ forex UK)