08.12.2014 - The New Zealand dollar will continue to decline
The price of NZ dollar fell sharply after the publication of strong data on the US labor market, the publication of which has led to the strengthening of the dollar. Today negative factor was the news to reduce the volume of China's imports by 6.7%. As a result, quotations broke through the lower boundary of the local downstream channel and reached the target level of 0.7660. Now quotations are trying to gain a foothold below this level, which will lead to a further drop in prices to the level of 0.7500. We recommend holding short positions and maintain a medium-term negative outlook.