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New Zealand Dollar at Clear Risk of Further Losses

New Zealand Dollar at Clear Risk of Further Losses

David Rodriguez, Head of Product
New Zealand Dollar at Clear Risk of Further Losses

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

NZDUSDA significant move in New Zealand Dollar positioning warns that the NZD may trade to further lows versus the US Dollar.

Trade Implications – NZDUSD: Retail traders are now their most net-long the Kiwi currency since it traded near $0.7500 in 2012, and extremely one-sided sentiment warns of continued declines. A test of multi-month lows of $0.8400 seems likely, and a break lower makes a move towards year-to-date lows of $0.8100 plausible.

See next currency section:EURUSD - Euro Positions at Record, Further Losses Seem Likely

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

New Zealand Dollar at Clear Risk of Further Losses

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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