NZD/USD trading in tight range, flat vs. open

28 December 2009 @ 07:56 pm EDT

FXstreet.com (London) - Coming back from an extended Christmas break, trade is still extremely light on the Kiwi. NZD/USD has been riding a wave since q1 this year, but at this point is viewed as too strong and damaging competitiveness of exports.

The Kiwi currently trades at 0.7073 against the Dollar, exactly flat from the open. With the local markets open, but sleepy markets and nothing in the way of meaningful news, the pair will likely trade in a tight range. The pair is trading in range between 0.7080 and 0.7069, mark these levels as the primary support and resistance in case of breakout.

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