August 1, 2012
Booooooooooooring! Due to the absence of market-moving economic events, NZD/USD was completely directionless yesterday. NZD/USD simply paced back and forth within a tight 40-pip range with resistance at .8120 and support at the .8080 level.
The only significant report released from New Zealand was the NBNZ Business Confidence Survey. It came in with a reading of 15.1, which was slightly higher than the previous month’s 12.6.
Today, there’s absolutely nothing on New Zealand’s economic cupboard. This means that we could possibly see the Kiwi move in a sideways manner just like yesterday during the Asia and European sessions, but be very susceptible to today's US events.
Last edited by Pipcrawler; 07-31-2012 at 11:29 PM.
"The only cable I watch is the pound baby."