29.12.2014 - The New Zealand dollar has left the boundaries of the channel

The price of the New Zealand dollar rose against the background of the rising cost of agricultural production due to flooding in Malaysia. Thus, quotes of NZD/USD broke through the upper limit of the downward channel and resistance at 0.7780. In case of further growth, quotations may reach the levels of 0.7825 and 0.7910. Our medium-term outlook remains negative despite the current growth of quotations and we recommend holding short positions with the target at 0.7500 and the stop above 0.7910.

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