09.07.2015 - We expect the fall of the New Zealand dollar

The price of the New Zealand dollar corrected to the upper limit of the downward channel. In case of overcoming this level, and the local maximum at 0.6800, we expect continued growth to 0.6850 and 0.7000. On the other hand, at the moment there is a high probability of resumption of downward price movement within the descending channel and reaching the target mark at 0.6600. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.6800.

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