Investing.com - The New Zealand dollar rose to 11-month highs against its U.S. counterpart on Thursday, boosted by strong trade balance data out of New Zealand, while markets eyed the release of a string of U.S. economic reports later in the day.
NZD/USD hit 0.8674 during late Asian trade, the pair''s highest since April 11, 2013; the pair subsequently consolidated at 0.8670, advancing 0.95%.
The pair was likely to find support at 0.8588, the session low and resistance at 0.8676, the high of April 11, 2013.
Official data showed that New Zealand''s trade surplus expanded to NZ$818 million in February, from NZ$286 million in January, whose figure was revised down from a previously estimated surplus of NZ$306 million.
Analysts had expected the surplus to expand to NZ$595 million last month.
Meanwhile, the greenback remained supported after upbeat U.S. durable goods orders figures on Wednesday indicated that economy is gaining momentum in the wake of a weather induced slowdown.
The kiwi was higher against the euro, with EUR/NZD tumbling 1.02% to 1.5882.
Later in the day, the U.S. was to publish final data on fourth quarter economic growth, as well as the weekly report on initial jobless claims and private sector data on pending home sales.
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