Forex - NZD/USD moves higher on new euro zone hopes

Forex News - The New Zealand dollar was higher against its U.S. counterpart on Monday, after German Chancellor Angela Merkel and French President Nicolas Sarkozy announced a plan to deal with the region's debt crisis, boosting risk appetite.

NZD/USD hit 0.7762 during late Asian trade, the daily high; the pair subsequently consolidated at 0.7766, climbing 0.94%.

The pair was likely to find support 0.7552, the low of October 5 and resistance at 0.7831, the high of September 29.

After a summit in Berlin on Sunday, Merkel and Sarkozy promised to present a "comprehensive package" of measures to counter the financial crisis in the euro zone, by the end of the month.

Although both leaders refused to give further details, the plan is believed to include ways to recapitalize European lenders and to strengthen cooperation between members of the single currency bloc.

Meanwhile, the kiwi was down against the Australian dollar with AUD/NZD rising 0.15%, to trade at 1.2715.

Also Monday, industry data showed that Australian job advertisements fell 2.1% in September, after a downwardly revised 0.7% decline the previous month.