18.04.2016 - Volatility of the New Zealand dollar will rise after the consolidation

The price of the New Zealand dollar showed growth today after rebounded from the support line. Currently quotes are near the resistance level at 0.6950. A further price increase in the near future is limited by the psychologically important level of 0.7000 and its overcoming will be the basis for the continuing upward price dynamics with the target at 0.7200. To resume the negative dynamics, the price needs to break through a sloping support line. In this case, the fall may continue to 0.6760 and 0.6580. Our medium-term outlook remains negative and after the current consolidation, we expect to see strong price movement.

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