The price of the New Zealand dollar fell sharply after a hint of Reserve Bank of New Zealand regarding the possibility of reducing interest rates. As a result of reduction, quotations fell to the lower limit of the downward channel, and broke through the important level of 0.7400. This fact is the basis for the continuation of the downward movement of the price to the level of 0.7200. In case of correction quotations may rise to 0.7500. We recommend to keep short positions with the target at 0.7200 and the stop above 0.7500.