22.04.2014 - Traders are waiting for the decision of the Reserve Bank of New Zealand
The price of the New Zealand dollar is trying to fix below the strong level of 0.8590. Further growth is limited by the upper boundary of the local downstream channel. We expect that the price will continue to decline within the channel to 0.8520 and recommend opening short positions with the stop above 0.8600. Despite this, we expect the resumption of growth of quotations in the medium term.
Growth of volatility is expected this week on Wednesday night, after the statement of the Reserve Bank of New Zealand on monetary policy. Tomorrow the course of trading can be influenced by data on production in China.