A Range Bound NZD/USD Provides Scalping Opportunity
The New Zealand dollar continues to trade sideways as robust U.S.GDP figures have temporarily eased concerns over the pace of the recovery. The “kiwi” isn’t seeing typical support that follows increased optimism as commodity prices aren’t seeing the follow though that equity markets are experiencing as global growth concerns remain. China’s efforts to curb lending continue to weigh on prices of raw materials and related currencies. The lack of a fundamental catalyst and a staunch support line has created an ideal scalping environment.
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