02.11.2015 - The New Zealand dollar is likely to fall within the channel
The price of the New Zealand dollar corrected downwards after reaching the upper limit of the local downward channel and in the near future according to our estimates will continue to fall within the channel to the level of 0.6600. In case of breaking through the upper boundary of the channel, and to overcome the resistance at 0.6800, quotes will likely continue to rise to 0.6900 and 0.7000. We recommend to open short positions with a stop above 0.6800 and the objectives at 0.6600 and 0.6450, after reaching which the fall may continue till 0.6250. Our medium-term outlook remains negative.