DailyFX.com - New Zealand Dollar May Trade to $0.8050

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

NZDUSDThe majority of FX traders remain long the New Zealand Dollar versus the US Dollar, and a contrarian view of sentiment leaves us in favor of continued NZDUSD weakness.

Trade Implications – NZDUSD: Last week we wrote that we favor short positions until we see the NZDUSD rally above $0.8514. And indeed, little has changed in sentiment or our near-term trading bias. A break below multi-month lows of $0.8310 opens up a move towards the year-to-date bottom of $0.8050.

See next currency section:EURUSD - Euro Remains a Sell Until this Changes

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Pound May Rise as 2Q UK GDP Data Boosts BOE Rate Hike Bets

  2. Forex News

    NZD/USD Technical Analysis: Channel Top Under Pressure

  3. Forex News

    Webinar: Key USD Scalp Levels For Month End- GBP Crosses in Focus

  4. Forex News

    A Strong First Decade for the Chinese Renminbi Since De-Pegging

  5. Investing

    NZD/USD Slides Lower on Friday

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!