NZD/USD IG Client Sentiment: Our data shows traders are now at their most net-long NZD/USD since Mar 29 when NZD/USD traded near 0.70.
Number of traders net-short has decreased by 10.18% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 58.83% of traders are net-long with the ratio of traders long to short at 1.43 to 1. Our data shows traders are now at their most net-long NZD/USD since Mar 29 when NZD/USD traded near 0.70. The number of traders net-long is 3.22% higher than yesterday and 6.12% lower from last week, while the number of traders net-short is 2.76% lower than yesterday and 10.18% 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.
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.
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