Number of traders net-short has increased by 46.11% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| NZD/USD | BULLISH | 48.09% | 51.91% | -0.44% Daily -26.62% Weekly | 7.49% Daily 46.11% Weekly | 3.52% Daily -1.05% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -13% | -3% | -11% |
| Weekly | -22% | 23% | -12% |
NZD/USD: Retail trader data shows 48.09% of traders are net-long with the ratio of traders short to long at 1.08 to 1. In fact, traders have remained net-short since Mar 17 when NZD/USD traded near 0.63, price has moved 1.37% higher since then. The number of traders net-long is 0.44% lower than yesterday and 26.62% lower from last week, while the number of traders net-short is 7.49% higher than yesterday and 46.11% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USD prices may continue to rise.
Our data shows traders are now net-short NZD/USD for the first time since Mar 17, 2023 when NZD/USD traded near 0.63. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
