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NZDUSD: Defined Range Still Holding

By , Currency Strategist
23 March 2012 05:34 GMT

Strategy: Flat

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.

NZDUSD_Defined_Range_Still_Holding_body_Picture_5.png, NZDUSD: Defined Range Still Holding

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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23 March 2012 05:34 GMT