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NZD/USD IG Consumer Sentiment: Our knowledge reveals merchants are actually net-long NZD/USD for the primary time since Oct 14, 2021 when NZD/USD traded close to 0.70.

nzd/usd-ig-consumer-sentiment:-our-knowledge-reveals-merchants-are-actually-net-long-nzd/usd-for-the-primary-time-since-oct-14,-2021-when-nzd/usd-traded-close-to-070.

NZD/USD Client Positioning

Variety of merchants net-short has decreased by 18.16% from final week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

NZD/USD

BEARISH

50.54%

49.46%

26.25% Every day

31.85% Weekly

-15.12% Every day

-18.16% Weekly

1.73% Every day

1.25% Weekly

NZD/USD: Retail dealer knowledge reveals 50.54% of merchants are net-long with the ratio of merchants lengthy to brief at 1.02 to 1. Actually, merchants have remained net-long since Oct 14 when NZD/USD traded close to 0.70, value has moved 0.32% decrease since then. The variety of merchants net-long is 26.25% increased than yesterday and 31.85% increased from final week, whereas the variety of merchants net-short is 15.12% decrease than yesterday and 18.16% decrease from final week.

We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests NZD/USD costs might proceed to fall.

Our knowledge reveals merchants are actually net-long NZD/USD for the primary time since Oct 14, 2021 when NZD/USD traded close to 0.70. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger NZD/USD-bearish contrarian buying and selling bias.

DailyFX supplies foreign exchange information and technical evaluation on the developments that affect the worldwide forex markets.

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