27.11.2015 - We expect the fall of the New Zealand dollar to 0.60

The price of the New Zealand dollar was not able to continue its growth and overcome the resistance level at 0.6600 and now is reduced inside the descending channel. The growth of quotations is limited by the boundary of the channel and more likely scenario according to our forecasts is a continuation of negative dynamics to 0,6450-0,6500, after which we expect a continuation of the price reduction. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.6600 and a target at 0.6000.

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