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NZD/USD Channel Provides Scalping Opportunity

NZD/USD Channel Provides Scalping Opportunity

2010-05-10 14:47:00
John Rivera, Currency Analyst
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Key Technical Levels 

 
scalp1
 
The NZD/USD has remained within its ascending channel since early February which adds validity to its upper and lower bounds. Considering the levels have held at a time when there were historic levels of volatility in most pairs adds to the attractiveness of the pair as a scalping target. A short-term channel is providing target levels for entering and exiting positions. However, traders should be aware of the longer-term trend which shows potential resistance near 0.7350.   
 
scalp2
scalp3
 
Quantitative Metrics 
 
The NZD/USD like most pairs has been vulnerable to broader volatility on fundamental factors which has lead to a spike in its ATR. However, at 102 pips it continues to have the lowest daily volatility of the most traded pairs. The pair’s Bollinger band width has started to widen but at 257 pips it is by far the narrowest amongst the pairs listed below. 
 
 
sclap4
 
 

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