NZD/USD IG Client Sentiment: Our data shows traders are now at their least net-long NZD/USD since Jan 03 when NZD/USD traded near 0.67.
Number of traders net-short has increased by 98.68% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 25.68% of traders are net-long with the ratio of traders short to long at 2.89 to 1. Our data shows traders are now at their least net-long NZD/USD since Jan 03 when NZD/USD traded near 0.67. The number of traders net-long is 4.15% lower than yesterday and 44.24% lower from last week, while the number of traders net-short is 10.87% higher than yesterday and 98.68% 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.
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.
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