15.10.2014 - The New Zealand dollar has stabilized above 0.7800
The price of the New Zealand dollar continues its consolidation between the sloping resistance line and the lower boundary of the local rising channel. In case of continued growth, a signal to close short positions will be fixing the price above the level of the local maximum near 0.7960 and overcoming the psychologically important mark of 0.8000. We expect continued downward movement. Sell signal will be breaking through the lower boundary of the rising channel and fixing the price below 0.7800. We recommend holding short positions with the target 0.7500 and a stop above 0.8000.