NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Aug 16, 2021 23:00 GMT when NZD/USD traded near 0.70.
Number of traders net-short has increased by 33.95% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 49.23% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Aug 16 when NZD/USD traded near 0.70, price has moved 1.13% lower since then. The number of traders net-long is 23.64% lower than yesterday and 24.95% lower from last week, while the number of traders net-short is 57.14% higher than yesterday and 33.95% 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 Aug 16, 2021 23:00 GMT when NZD/USD traded near 0.70. 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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