04.02.2016 - We expect a correction of the New Zealand dollar
The price of the New Zealand dollar after overcoming the resistance level at 0.7130 continued growth within the local ascending channel and in the near future may continue to rise to resistance at 0.7250. Overcoming this level will be the basis for further price increase to 0.7400 and 0.7500. In case of decrease, the basis for the opening short position will be breaking through the local ascending channel's lower border, and the level of 0.7130. We forecast the price drop in the near future.