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NZDUSD: Familiar Range Still Intact

NZDUSD: Familiar Range Still Intact

2012-03-30 12:01:00
Ilya Spivak, Head Strategist, APAC
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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_Familiar_Range_Still_Intact_body_Picture_5.png, NZDUSD: Familiar Range Still Intact

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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