EUR/USD retreats from 1.37

The 200-day SMA proved to be a formidable resistance level by forcing the currency pair to start ceding ground. The immediate support is at 1.3630/22, formed by the weekly and monthly pivot points. However, there is a good chance of a much deeper decline, down to 1.35, namely this year's lows. The technical indicators, on the other hand, are mostly sending ‘buy' signals, especially on the monthly time-frame.

The sentiment remains slightly bearish towards EUR/USD—44% of positions are long and 56% are short. In the meantime, the percentage of the sell orders has noticeably increased since the previous report—from 50% to 60%.