NZD/USD IG Client Sentiment: Our data shows traders are now net-long NZD/USD for the first time since Jun 03, 2020 when NZD/USD traded near 0.64.
Number of traders net-short has decreased by 33.70% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 51.66% of traders are net-long with the ratio of traders long to short at 1.07 to 1. In fact, traders have remained net-long since Jun 03 when NZD/USD traded near 0.64, price has moved 2.47% higher since then. The number of traders net-long is 19.85% higher than yesterday and 72.49% higher from last week, while the number of traders net-short is 4.69% lower than yesterday and 33.70% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests NZD/USD prices may continue to fall.
Our data shows traders are now net-long NZD/USD for the first time since Jun 03, 2020 when NZD/USD traded near 0.64. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.