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Range trading for the NZD against the US dollar.

Written by Sam Coxhead on November 23rd, 2012.      0 comments

10:59AM (NZT) This week has seen a very contained trading range for this pair. Thanks Giving in the US means it has essentially been a shortened week, and in the absence of top tier economic data releases sideways movement was likely. The positive flow on from the end of last week saw the pair push up towards the initial resistance at .8200 to set the highs for the week. From there the price action has been uninspired as the pair remains well within its recently familiar range. Expect this range trading to continue in the near term with the better economic data in China and the US being balanced by the uncertainty around Greece and the US fiscal situation.
 
The current interbank midrate is:                                                             NZDUSD .8160
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8104 - .8205
Topics: NZDUSD
 

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