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Forex - NZD/USD holds steady in cautious trade

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Investing.com -

Investing.com - The New Zealand dollar was steady against its U.S. counterpart on Monday, as markets were jittery amid ongoing geopolitical tensions between Russia and Ukraine.

NZD/USD hit 0.8476 during late Asian trade, the session low; the pair subsequently consolidated at 0.8480, inching down 0.06%.

The pair was likely to find support at 0.8420, the low of August 13 and resistance at 0.8531, the high of August 5.

Investors remained cautious as tensions over the crisis in Ukraine escalated on Friday following reports that Ukraine's military attacked and destroyed a number of armored vehicles that entered the country from Russia.

The kiwi was little changed against the Australian dollar, with AUD/NZD easing up 0.04%, to 1.0986.

Also Monday, official data showed that new motor vehicle sales in Australia dropped 1.3% last month, after a 1.7% increase in June.

Later in the day, the U.S. was to produce private sector data on the housing market.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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