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NZD/USD Channel Presents Scalping Opportunity

The NZD/USD has been trading in a tight 300 pip range since early February as ebb and flowing risk sentiment has left the pair without a clear direction. The improving global economy has been offset by lingering concerns that post credit crisis fallout remains, which has been enhanced by the credit issues in Europe. The lack of job growth and consume spending has markets concerns that dissipating government stimulus will lead to a period of stagnation. Meanwhile, RBNZ interest rate expectations have diminished which has also been a weighing factor and has seen the “kiwi’s” sensitivity to risk trends diminish. 

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March 9, 2010 | This forex market commentary from Managed Forex Accounts website filed under Market News

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