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New Zealand Outlook Remains Bearish

New Zealand Outlook Remains Bearish

2015-11-05 15:50:00
David Rodriguez, Head of Product
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New Zealand Outlook Remains Bearish

Why and how do we use the SSI in trading? View our video and download the free indicator here

NZDUSD – Our retail FX trader positioning data shows that the trading crowd has recently turned marginally net-long the New Zealand Dollar versus the US Dollar. And a contrarian view of herd sentiment leaves us with a bearish short-term trading bias.

A key caveat is that traders have shown relatively little willingness to buy recent NZD weakness; ideally we would see a more aggressive shift before calling for fresh short positions in the NZD/USD.

See next currency section: XAUUSD - Gold Prices Likely to Fall Further Until this Changes

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

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