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  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:https://t.co/Y48cF2qi9M https://t.co/ia3Bgq0ZTp
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  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.15% France 40: 1.09% Germany 30: 0.92% Wall Street: 0.01% US 500: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CjZTVpoYZr
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New Zealand Dollar Targets Fresh Lows

New Zealand Dollar Targets Fresh Lows

David Rodriguez, Head of Product
New Zealand Dollar Targets Fresh Lows

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NZDUSD Retail FX traders remain steadily long the New Zealand Dollar versus the US Dollar, and a contrarian view of crowd sentiment points to further NZDUSD weakness.

Trade Implications NZDUSD A sharp shift in retail sentiment through mid-December warned of a sustained NZ$ bounce, but that proved quite short-lived as the pair turned lower and crowds bought into weakness. Long positions now outnumber those short by nearly 1.7 to 1, and such heavily one-sided sentiment leaves us little reason to expect anything but further NZD weakness.

See next currency section: GBPJPY - British Pound Remains Attractive versus Yen

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

New Zealand Dollar Targets Fresh Lows

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