30.06.2015 - We expect a fall of the New Zealand dollar
The price of the New Zealand dollar continued to decline within the descending channel after failing to overcome the upper limit of the channel, and some consolidation near the level of 0.6900. Price updated local minimum around 0.6820 and reached 0.6800. The growth in the near future is limited by the resistance levels at 0.6900 and 0.7000. Our medium-term outlook remains negative and we recommend holding short positions with the target at 0.6600.