DailyFX.com - New Zealand Dollar at Clear Risk of Further Losses

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

NZDUSDA significant move in New Zealand Dollar positioning warns that the NZD may trade to further lows versus the US Dollar.

Trade Implications – NZDUSD: Retail traders are now their most net-long the Kiwi currency since it traded near $0.7500 in 2012, and extremely one-sided sentiment warns of continued declines. A test of multi-month lows of $0.8400 seems likely, and a break lower makes a move towards year-to-date lows of $0.8100 plausible.

See next currency section:EURUSD - Euro Positions at Record, Further Losses Seem Likely


Filed Under:
Forex pairs in this Article » NZD/USD

comments powered by Disqus