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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.

Session Recap: USD marginally recovering; Earthquake in NZ

USD has found some buyers above the 81 big figure in the DXY spot index, trading last near session highs at 81.22, mainly helped on Yen weakness, taking the USD/JPY pair to session highs at 97.65, while EUR/USD posted a session low at 1.3340.
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AUD/NZD boosted above 1.1350 after NZ earthquake and Shanghai's “fat finger”

The AUD/NZD foreign exchange cross rate is last trading at fresh session highs 1.3354 bids, managing to recover from early session fresh weekly lows at 1.1273 on the back of a NZ new earthquake, and massive spike higher on the Shanghai Composite.
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