Number of traders net-short has decreased by 33.94% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
NZD/USD: Retail trader data shows 75.45% of traders are net-long with the ratio of traders long to short at 3.07 to 1. Our data shows traders are now at their most net-long NZD/USD since Dec 21 when NZD/USD traded near 0.68. The number of traders net-long is 4.01% lower than yesterday and 1.21% higher from last week, while the number of traders net-short is 24.31% lower than yesterday and 33.94% lower 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.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bearish contrarian trading bias.