Forex: NZD/USD capped at 0.8400; Asian shares cheer fiscal cliff deal
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NZD/USD
FXstreet.com (San Francisco) - The New Zealand dollar rallied to a 10-day high against the U.S. dollar Wednesday along with Asian stocks, after the House of Representatives passed a Bill to avert the "fiscal cliff" crisis that threatened a U.S. recession.
As the President of the United States delivers comments about this last-minute deal, NZDUSD stands at 0.8375 (vs. 0.8277) after peaking at 0.8400 in earlier trade. 0.8470 is the next level to overcome to the upside; above there, 78.6% retracement resistance at 0.8525 is likely to attract offers. 0.8350 is offered as immediate support.
Bourses in Asia have climbed to a five-month high, with Japan's Nikkei up 0.7%, Australian shares are up 1.25%, and the Hang Sen 40 is currently up 1.85%, all underpinned by the passage of the deal to avert the self-imposed fiscal cliff.
As the President of the United States delivers comments about this last-minute deal, NZDUSD stands at 0.8375 (vs. 0.8277) after peaking at 0.8400 in earlier trade. 0.8470 is the next level to overcome to the upside; above there, 78.6% retracement resistance at 0.8525 is likely to attract offers. 0.8350 is offered as immediate support.
Bourses in Asia have climbed to a five-month high, with Japan's Nikkei up 0.7%, Australian shares are up 1.25%, and the Hang Sen 40 is currently up 1.85%, all underpinned by the passage of the deal to avert the self-imposed fiscal cliff.
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