01.05.2014 - The New Zealand currency increased on weak GDP growth in the U.S.
The price of the New Zealand dollar has broken through the inclined resistance line and reached the target level of 0.8630. Overcoming the current level after the first attempt is more likely to fail, and we recommend opening short positions with a stop above 0.8630 and targets at 0.8580, 0.8550 and 0.8520. For the continued growth, the price needs to gain a foothold above 0.8630. Despite the expectation of a downward correction, we keep medium-term positive outlook for the New Zealand dollar.