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The NZD approaches further resistance against the Canadian dollar.

Written by Sam Coxhead on September 28th, 2012.      0 comments

3:00 PM (NZT) It has been an interesting week for this pair that started with some initial NZ dollar weakness as the noise in Europe again started to grow louder. After setting the lows for the week at .8022, a couple of waves of strong NZ dollar demand saw the resistance at .8100 broken, and the way eased for further NZD appreciation. Demand for NZ dollars against the AUD is spilling over to other pairs and this has provided a driver for this pair. Next week there is an absence of local NZ economic data , so expect the lead to come from manufacturing numbers on Thursday, and building and employment numbers on Friday. Its seems likely that substantial resistance at .8200 will be tested in the short term, however further appreciation through this level should prove to be hard fought for the NZ dollar.
 
The current interbank midrate is:                                                            NZDCAD .8175                              
                                                               
The interbank range so far this week to date has been:                 NZDCAD .8022 - .8179              
Topics: NZD CAD
 

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