30.12.2015 - We expect the decline of the New Zealand Dollar

The price of the New Zealand dollar has shown strong growth during the last weeks, but could not continue it, and after approaching the important resistance level at 0.6900 started to adjust and at the moment is trying to overcome inclined support line, fixing below which will become the basis for opening short positions with a stop above 0.6900 and 0.6600 at targets, 0.6450 and 0.6250. Our medium-term outlook is negative and we recommend accumulating short positions.

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