EUR/USD stopped short of 200-day SMA

The currency pair performed a U-turn just before touching 1.3453/43 and surged upwards, thereby confirming importance of the 200-day SMA for the market. Now the rally is likely to extend up to either the monthly PP or the 100-day SMA that together create a formidable supply zone near the round level of 1.36. There the Euro will be expected to prepare for another attack on the long-term moving average.

The number of bearish towards the Euro market participants continues to decrease, as their share fell yet another three percentage points to 54%. Concerning the orders, however, the majority (72%) are to short sell the common currency.