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New Zealand Outlook Depends on this Shift

New Zealand Outlook Depends on this Shift

David Rodriguez, Head of Product
New Zealand Outlook Depends on this Shift

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

NZDUSD – Indecisive moves in the New Zealand Dollar make it difficult to establish a strong trading bias, and indeed our retail FX trader sentiment data gives few clues on what we may expect next in the NZD/USD. Approximately 58 percent of open NZD positions in our sample are currently long, and a contrarian view of crowd sentiment leaves us marginally bearish. Yet we would ideally see more one-sided extremes before calling for continued New Zealand Dollar weakness.

See next currency section: XAUUSD - Gold Prices Forecast to Hit Further Highs

--- 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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