22.12.2014 - Traders are waiting for data on the trade balance of New Zealand

The price of the New Zealand dollar continues to move along the upper border of the descending channel. At the moment, the quotes are adjusted upwards and may reach the level of 0.7780. In the case of overcoming this level and the upper boundary of the channel, we can see continued price growth to 0.7825 and 0.7910. Tonight is projected the increase of volatility associated with the publication of data on the trade balance of the country, which had previously led to the fall of quotations. We recommend holding short positions and maintain a medium-term negative outlook.

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