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Forex: NZD/USD kiwi rally capped at 0.8347

FXstreet.com (Barcelona) - The NZD/USD rally stormed ahead during American trading Thursday, only to reach a peak at the 0.8347 region. In recent minutes however, this session high proved to be the pinnacle of gains thus far, as the pair has eased back towards the 0.8329/30 region in these moments.

Earlier today in the United States, the Housing Price Index (MoM) yielded a result of +0.6% in January, vs. a consensus of +0.7%. Meanwhile, the CB Leading indicator (MoM) has grown +0.5% in February, beating estimates of only +0.4%. Finally, the Philadelphia Fed Manufacturing Survey (March), has yielded a result of 2.0, against expectations of -2.0.

As sentiment has rallied Thursday, sending the NZD/USD crashing through resitances at 0.8282, Mataf.net analysts calculate the next resistances at 0.8331 onto 0.8346. Should the pair ultimately reverse course and break lower, the NZD/USD is slated to meet support at 0.8218, ahead of 0.8182, and finally 0.8154

Cyprus government proposes setting up investment fund to secure bailout

After long talks the government in Nicosia has decided to create an “Investment Solidarity Fund" on Thursday afternoon in order to be able to strike a deal on the rescue program with the Eurozone and the IMF before the ECB withdraws liquidity to the Cypriot banking sector on Monday. The investment fund would be backed by various state assets such as church property or revenues from the country's natural gas reserves.
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Forex: EUR/USD bounces with support at 1.2880

The EUR/USD found support again at 1.2880 area after the drop as the US session opened. Now, the market is bouncing back and already trades above the 1.2900 psychological level. The economic cal-endar in the US is now empty.
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