03.08.2016 - We forecast a fall of the New Zealand dollar
Price of the New Zealand dollar after reaching the resistance level at 0.7250, started to correct and may soon reach an inclined support line. In case of breaking this line and the mark of 0.7130, we expect a continuation of the negative dynamics of price with potential targets at 0.7050 and 0.6970. Less likely is overcoming the level of 0.7250, which will be the basis for continued growth with objectives at 0.7320 and 0.7400. Our medium-term outlook is negative.