New Zealand Dollar Outlook Mixed as Crowd Flips
NZDUSD - The ratio of long to short positions in the NZDUSD stands at -1.15 as 46% of traders are long. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the NZDUSD may continue higher. The trading crowd has grown less net-short from yesterday but further short since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
--- Written by Christopher Vecchio, Currency Strategist