27.03.2014 - The New Zealand currency continues to rise

The growth of the trade surplus in New Zealand has led to breaking through the nearest local maximum at 0.8630. Thus, the figure rose to 818 million versus analysts' forecasts at 600 million. The growth of quotations is also supported by speculations on new measures of stimulating the economy of China, which is the main trade partner of the country. A buy signal is price fixing of the New Zealand dollar above 0.8630. In case of further increase the price can reach levels of 0.8750 and 0.8800. We maintain our positive outlook for NZD/USD in the medium-term.

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