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The NZD grinds higher against the US dollar.

Written by Sam Coxhead on November 2nd, 2012.      0 comments

2:45 PM (NZT) Its has been a somewhat strange weeks trade so far. Super storm Sandy kept the market on the side lines for the start of the week, and this led to contained ranges for most currency pairings, of which the NZDUSD was most certainly one. However, in the offshore session overnight the NZ dollar saw some steady and somewhat surprising demand. With little in terms of economic data to prompt such a move, its looks like there has been some purposeful buying, and further upside cannot be ruled out in the short term. Resistance at .8280 had managed to cap the rally for the time being, but should this level break, the next and more substantial resistance will like come in at .8350.
 
The current interbank midrate is:                                                  NZDUSD .8270 
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8174 - .8281
Topics: NZD USD
 

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