New Zealand Dollar Losses Remain Likely
Dailyfx | Jul 09, 2015 11:54AM ET
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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