10.09.2015 - The New Zealand dollar dropped to a local minimum

The price of the New Zealand dollar today has shown the gap after the decision of the Reserve Bank of New Zealand to cut interest rates by 0.25% to 2.75%. As a result, quotations have decreased to a local minimum at 0.6250 and are consolidating above this mark. In case of continued downward movement, quotes will continue to fall to the target level at 0.6200 and 0.6000. We recommend holding short positions with a stop above the important resistance level 0.6400. We also maintain our medium-term negative outlook.

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