03.02.2015 - The New Zealand dollar fell sharply within the channel

The price of NZD/USD within the upward correction has reached the resistance level at 0.7300 and the upper limit of downtrend channel, and then started to decline sharply and updated the local minimum. At the moment, quotations are consolidated near the level of 0.7200, fixation below which will be the basis for further decrease with the target level of 0.7000. Growth is limited by resistance level at 0.74000 and 0.7500. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.7500.

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