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New Zealand Outlook Unclear until this Shifts

New Zealand Outlook Unclear until this Shifts

David Rodriguez, Head of Product
New Zealand Outlook Unclear until this Shifts

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

NZDUSD – Retail FX traders have recently turned net-short the New Zealand Dollar versus its US namesake, and a contrarian view of crowd sentiment would typically lead us to call for near-term strength. Yet it is important to note that sentiment in the NZD/USD has been very choppy as of late—much like price itself. We will wait to see a stronger shift in sentiment before calling for a meaningful NZD rally.

See next currency section: XAUUSD - Gold Prices at Key Juncture

--- 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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