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Tight range for the NZD against the CAD this week.

Written by Sam Coxhead on March 30th, 2012.      0 comments

4:50 PM (NZT) This pairing has been very stable this week, moving around in a very small and contained range. A lack of important economic data has lent towards this stability, and hopefully the Canadian GDP number may provide some interest. Next week should also be moderately contained ahead of Friday flood of data in Canada. A consolidated break lower of the .8110 level opens up the way to test the substantial support levels at .8000. The Chinese manufacturing data due for release over the weekend could materially affect demand for NZD, so this could be of impact.
 
The current interbank midrate is:                                                            NZDCAD .8150                              
                                                               
The interbank range so far this week to date has been:                 NZDCAD .8117 - .8181     
 

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