25.11.2014 - The fall of the New Zealand dollar has accelerated
The price of the New Zealand dollar continued to decline within the local descending channel and broke through the support level at 0.7830. At the moment, the quotes are consolidated near the mark of 0.7800 and may continue the downward movement with the objectives of 0.7740 and 0.7660. An additional incentive besides the low price for exports was the decrease of the Australian currency. We recommend holding short positions and maintain a medium-term negative outlook.