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16 Aug 2013
NZD/USD recaptures 61.8% of earthquake decline and hits short-term wall
FXstreet.com (Barcelona) - The NZD/USD cross reacted to news of an earthquake in New Zealand by selling off from 0.8098 to 0.8053 in a matter of 15 minutes. The kiwi has retraced nearly 2/3 of the decline but may have hit a short-term ceiling.
NZD/USD traders will be watching quake news and US Consumer Sentiment Friday
Of course, NZD/USD traders will be monitoring closely the developments in New Zealand as they are reported. However, they will also be watching the important University of Michigan Consumer Confidence number very closely as well at 13:55 GMT.
Technical outlook for NZD/USD
Technicians believe the NZD/USD may be in the latter stages of a “zig zag” corrective move to the upside with a target range of 0.8167 to 0.8238. Support for NZD/USD comes in at Tuesday’s low of 0.7930.
NZD/USD traders will be watching quake news and US Consumer Sentiment Friday
Of course, NZD/USD traders will be monitoring closely the developments in New Zealand as they are reported. However, they will also be watching the important University of Michigan Consumer Confidence number very closely as well at 13:55 GMT.
Technical outlook for NZD/USD
Technicians believe the NZD/USD may be in the latter stages of a “zig zag” corrective move to the upside with a target range of 0.8167 to 0.8238. Support for NZD/USD comes in at Tuesday’s low of 0.7930.