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Will the NZD be able to hold its ground against the CAD?

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:22 PM (NZT) The NZD has remained under pressure from the CAD throughout the course of this week. The lowering oil price cushioned the NZD fall, until it stablised. The pair remains vulnerable to further NZD weakness as the pair is again close to the support level at .7850, consolidation through here would open up the way for a move back towards more historically average levels. The wider market risk appetite will provide the lead next week, with limited scope for NZD appreciation in the current environment.
 
The current interbank midrate is:                                                            NZDCAD .7863                              
                                                               
The interbank range so far this week to date has been:                 NZDCAD .7840 - .7937              
Topics: NZD CAD
 

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