23.02.2016 - We forecast a decline of the New Zealand dollar

On the chart of the New Zealand dollar has been formed a triangle and currently quotes are close to the level of resistance at 0.6750 and consolidation above this level will be a signal to continue the growth. On the other hand, there is a possibility of correction to 0.6600. Fixing of quotations below this important level will be a signal to sell. We forecast a drop in prices in the near future and in the case of opening short positions with a stop above 0.6750, target levels will be 0.6450 and 0.6350. The medium-term outlook also remains negative.

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