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New Zealand Outlook Remains in favor of Depreciation

New Zealand Outlook Remains in favor of Depreciation

David Rodriguez, Head of Product
New Zealand Outlook Remains in favor of Depreciation

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

NZDUSD – Retail FX traders are once again net-long the New Zealand Dollar versus the US Dollar, and a contrarian view of crowd sentiment keeps us watching for further NZD/USD declines. A technical failure at a key trendline likewise portends poorly for the NZD, and it would take a material shift in sentiment to call for a meaningful reversal higher.

See next currency section: XAUUSD - Gold Prices at Potentially Significant Turning Point

--- 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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