11.04.2014 - The New Zealand dollar is corrected
The New Zealand dollar demonstrated increased volatility during last days. The price strongly declined due to negative data on trade turnover in China and falling growth of house prices to 2.1% vs. previous growth rate of 3.4%. The price of NZD/USD has reached the target level of correction 0.8630 and rebounded upwards. We recommend opening long positions with a stop below 0.8630 and objectives in the area of 0.8700. We maintain our positive outlook for the medium-term but note reduction of potential for further growth.