12.03.2014 - Volatility is expected to increase at NZD/USD

The price of NZD/USD has broken through the inclined support line and reached the level 0.8450. On the price chart is formed the figure "triangle", after the exit from which we expect a strong price movement. We expect an increase of volatility after the statements of the Reserve Bank of New Zealand (20:00 GMT). A signal to sell will be price fixing below 0.8450. We recommend to open long positions in case of fixing the price above 0.8500. Further price movement is limited by the borders of the local rising channel. We maintain a long-term negative outlook for the New Zealand dollar.


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