The New Zealand rose against its U.S. counterpart on Wednesday, pulling away from one-year lows after the release of positive trade balance data from New Zealand, although Tuesday's strong U.S. manufacturing data continued to support demand for the greenback.
NZD/USD hit 0.8086 during late Asian trade, the session high; the pair subsequently consolidated at 0.8080, rising 0.37%. The pair was likely to find support at 0.8040, Tuesday's low and a one-year low and resistance at 0.8172, the high of September 22.
Official data earlier showed that New Zealand's trade deficit narrowed to NZ$472 million last month from NZ$692 million in July. Analysts had expected the trade deficit to widen to NZ$1,275 million in August.
The report showed that exports rose by NZ$3.52 billion last month, beating expectations for an increase of NZ$3.15 billion.
The kiwi was higher against the euro, with EUR/NZD shedding 0.39% to 1.5900.
