NZDUSD continues to oscillate in a narrow range below support-turned-resistance at 0.8262 and the 38.2% Fibonacci retracement at 0.8084. Current positioning does not offer a compelling trading opportunity and we will wait for the pair to resolve its directional bias from the sidelines for the time being.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.