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Further range trading for the NZD CAD pair.

Written by Sam Coxhead on April 5th, 2012.      0 comments

3:52 PM (NZT) This pair continues its trading within the recent .8000 - .8200 range. For the first half of the week the NZD drifted lower in directionless trade. Upbeat assessments from BOC head Carey, and then from the US FED monetary policy meeting minutes, put the NZD under increased pressure again. Expect the pairing to remain in these now familiar ranges for the time being. A lack of economic data in NZ again next week means the lead will once again come from mainly the north American influence. If we see a sustained period of lower stock markets, the crucial .8000 support level will come under pressure.
 
The current interbank midrate is:                                                            NZDCAD .8131                              
                                                               
The interbank range so far this week to date has been:                 NZDCAD .8065 - .8208              
 

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