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The NZ dollar again sees pressure from the CAD.

Written by Sam Coxhead on May 18th, 2012.      0 comments

4:27 PM (NZT)The Canadian dollar continued its recent dominance over the NZ dollar to start the week. The NZD weakness was aided by the weaker than expected NZ retail sales and Fonterra diary auction results. Opening up the week down through the .7850 support level eased the way for the move lower. The .7700 level is now the base and provides support for the pair. Bank of Canada concerns over Europe have seen the CAD give back some of the gains over the last few sessions. .7700-.7850 will likely provide the range in the short term. A break of either end of the range is required for future direction for the pair.
 
The current interbank midrate is:                                                            NZDCAD .7781                             
                                                               
The interbank range so far this week to date has been:                 NZDCAD .7711 - .7836              
Topics: canadian dollar, NZD, NZD CAD
 

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