NZD/USD IG Client Sentiment: Our data shows traders are now net-short NZD/USD for the first time since Mar 02, 2023 when NZD/USD traded near 0.62.
Number of traders net-short has increased by 23.68% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
NZD/USD: Retail trader data shows 49.89% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Mar 02 when NZD/USD traded near 0.62, price has moved 0.36% higher since then. The number of traders net-long is 18.75% lower than yesterday and 19.86% lower from last week, while the number of traders net-short is 16.92% higher than yesterday and 23.68% 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.
Our data shows traders are now net-short NZD/USD for the first time since Mar 02, 2023 when NZD/USD traded near 0.62. 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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