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New Zealand Dollar Outlook Remains Positive

New Zealand Dollar Outlook Remains Positive

David Rodriguez, Head of Product

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

NZDUSD – Retail FX traders remain marginally net-short the New Zealand Dollar versus the US Dollar, and a contrarian view of crowd sentiment leaves us watching for further NZD/USD gains. It was last week that we noted a marked shift towards selling warned of a near-term turn higher in the NZD. And until we see the opposite—crowds buying—we see little reason to alter our near-term forecast.

See next currency section: XAUUSD - Gold Price Forecast to Fall Further versus Dollar

--- 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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