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The NZDCAD pair nears resistance levels.

Written by Sam Coxhead on October 26th, 2012.      0 comments

3:32 PM (NZT) It has been a really strange week for this pair, with both central banks featuring and both seeing mixed reactions from the “skitterish” market. On the balance the NZ dollar has outperformed and the pair remains close to the substantial resistance at .8180. The market had obviously  positioned its self with significant exposure for higher Canadian interest rates at some stage in 2013, because the apparent paring back of expectations over the last two weeks has been brutal for the Canadian dollar. Current levels offer good value buying of CAD with NZ dollars, even if the resistance at .8180 breaks in the short term. Next week the focus comes from Canadian GDP on Thursday and employment on Friday, and both will be closely watched.
 
The current interbank midrate is:                                                  NZDCAD .8160 
                                                                                         
The interbank range so far this week to date has been:       NZDCAD .8035 - .8181
Topics: NZD CAD
 

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