Number of traders net-short has decreased by 8.14% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 49.03% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Jan 30 when NZD/USD traded near 0.65, price has moved 12.48% lower since then. The number of traders net-long is 24.00% lower than yesterday and 28.64% lower from last week, while the number of traders net-short is 0.64% higher than yesterday and 8.14% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USD prices may continue to rise.
Our data shows traders are now net-short NZD/USD for the first time since Jan 30, 2020 when NZD/USD traded near 0.65. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.