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The NZDUSD pair bounces around within its familiar range.

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

2:12 PM (NZT) Whilst we have seen periods of rapid movement for this pair this week, it remains in a very familiar overall range. At the pair’s Wednesday low, the NZ dollar did feel particularly vulnerable, but it was able consolidate back through the .8150 level to regain its standing. If it has not been for the disappointing  US corporate earnings season this week, the NZ dollar would have been pushing back at resistance levels. Expect the familiar .8100 - .8300 range trading to continue ahead of the unpredictable US election result. The election will provide direction for the pair in the coming weeks. Given the close nature of the race, expect liquidity levels to reduce as the election approaches and this could lead to accentuated moves at times.
 
The current interbank midrate is:                                                  NZDUSD .8194 
                                                                                         
The interbank range so far this week to date has been:       NZDUSD .8097 - .8243
Topics: NZD USD
 

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