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New Zealand Dollar Losses Remain Likely

Published 07/09/2015, 11:54 AM
Updated 07/09/2023, 06:31 AM

NZD/USD

Heavily one-sided retail FX sentiment warns that the New Zealand Dollar may continue lower versus the US Dollar. The ratio of long to short positions in the NZD/USD stands at 2.41 as 71% of traders are long. It’s worth noting that this represents a considerable moderation from last week as total long positions have fallen 18.2% and short positions are up 20.9%. Yet we would need to see a much more material shift before calling for a meaningful NZD/USD reversal.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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