23.08.2016 - We expect the resumption of decline of the Australian dollar

Price of the New Zealand dollar increased within the local descending channel and reached the level of 0.7650 and came close to the upper boundary of the channel. Overcoming given levels will be the basis for the continuation of the negative dynamics of price with potential targets at 0.7700 and 0.7800. Our medium-term outlook remains negative and we expect renewed decline in the coming days, with the first targets at 0.7500 and 0.7400.

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