18.03.2014 - New Zealand Dollar expects correction

The price of the New Zealand dollar continues to move between the inclined support line and the upper border of the rising channel. Further growth is limited by the level of the nearest local maximum of 0.86. After months of steady growth, we expect the correction NZD/USD with target prices at 0.8550 and 0.8450. Thus the price is likely to continue growing inside the rising channel in the medium term. Increase in volatility is expected after the publication of data on the balance of payments of New Zealand (21:45 GMT) and tomorrow's decision of the U.S. Federal Reserve on further fate of quantitative easing program.

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