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New Zealand Dollar Forecast to Tumble Further

New Zealand Dollar Forecast to Tumble Further

David Rodriguez, Head of Product

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NZDUSD –Extraordinarily one-sided retail FX trader sentiment warns that the New Zealand Dollar will continue to tumble versus its US namesake. The current ratio of long to short positions stands at 3.3 to 1; 77 percent of traders are long. As long as this remains the case we see little reason to deviate from our long-standing NZD-bearish trading bias.

See next currency section: GBPJPY - British Pound Turns Higher versus the Japanese Yen

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

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

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