09.06.2016 - The New Zealand dollar showed sharp growth

Price of the New Zealand dollar showed strong growth with a gap. As a result, quotes have overcome the local maximum at 0.7050, which was the basis for the continuing upward dynamics with price targets at 0.7200 and 0.7400. According to our estimates, the potential for further growth of quotations in the near future will be low, and we expect a price correction within which the price will be able to close the gap. Our forecast for the near future is a negative, despite the current upward momentum and we expect a decline in the medium term.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.