DDMARKETS
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NZDUSD 15min Scalp: Playing in the Range

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD is trapped in a 15min range at the time of this writing as shown on the chart. Scalpers may attempt to short and long NZDUSD off the resistance / support levels until one of the key levels gives way.

Although scalping may be used our preference is to wait for a 15min close below the support (lower line), which may pave the way for stronger weakness in the currency pair. A break above the resistance may also lead to some gains, however. a bearish breakout may trigger a firmer price movement.

Although it is not directly related to NZDUSD , Australia's GDP (due later in Asia) may trigger some volatility in NZD pairs and crosses.

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