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New Zealand Dollar at Clear Risk of Further Losses

New Zealand Dollar at Clear Risk of Further Losses

2014-07-31 15:30:00
David Rodriguez, Head of Product
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New Zealand Dollar at Clear Risk of Further Losses

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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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