NZD/USD IG Client Sentiment: Our data shows traders are now at their least net-long NZD/USD since May 22 when NZD/USD traded near 0.61.
Number of traders net-short has increased by 51.84% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 22.41% of traders are net-long with the ratio of traders short to long at 3.46 to 1. Our data shows traders are now at their least net-long NZD/USD since May 22 when NZD/USD traded near 0.61. The number of traders net-long is 42.34% lower than yesterday and 24.34% lower from last week, while the number of traders net-short is 24.37% higher than yesterday and 51.84% 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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.