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New Zealand Dollar Forecast to Gain Unless this Changes

New Zealand Dollar Forecast to Gain Unless this Changes

David Rodriguez, Head of Product
New Zealand Dollar Forecast to Gain Unless this Changes

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

NZDUSD– Retail traders have sold into the New Zealand Dollar’s surge versus the US Dollar, and a contrarian view of crowd sentiment points to further NZD/USD gains.

It is likewise encouraging to note the NZD showed a daily close above key resistance at $0.6900, and the next major price level to watch is now the $0.7200. It would take a substantive shift in retail trader sentiment to change our bullish trading bias.

See next currency section: XAUUSD - Gold Prices Likely to Remain Range-bound

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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