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NZDUSD: Well-Defined Range Continues to Hold

NZDUSD: Well-Defined Range Continues to Hold

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

NZDUSD continues to oscillate in a narrow range between 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 stand aside until something actionable presents itself.

NZDUSD_Well-Defined_Range_Continues_to_Hold_body_Picture_5.png, NZDUSD: Well-Defined Range Continues to Hold

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

To contact Ilya, e-mail ispivak@dailyfx.com. 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 ispivak@dailyfx.com

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

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