13.04.2015 - We recommend to open short positions on the New Zealand dollar

The price of New Zealand dollar after a long consolidation within the triangle has broken its lower boundary and an important support level near 0.7500, which was the basis for opening short positions. According to our forecasts, the decline will continue in the near future with targets at 0.7400, 0.7300 and 0.7200. We recommend to open short positions with a stop above the important resistance level at 0.7620, but to determine the medium-term price direction, we will need new signals.

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