NZD/USD Technical Price Outlook: Kiwi Consolidation Narrows

NZD/USD TRADER SENTIMENT

NZD/USD Trader Sentiment

  • A summary of IG Client Sentiment shows traders are net-long NZD/USD - the ratio stands at +1.12 (52.9% of traders are long) – neutral reading
  • Long positions are6.9% lower than yesterday and 2.2% higher from last week
  • Short positions are 11.6% lower than yesterday and 13.2% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests NZD/USD prices may continue to fall. Yet traders are more net-long than yesterday but less net-long from last week and the combination of current positioning and recent changes gives us a further mixed NZD/USD trading bias from a sentiment standpoint.
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