EUR/USD trapped between 1.3559 and 1.3473/23

Being unable to fully erode the support at 1.3473/23, EUR/USD returned to the resistance at 1.3559. However, the upside is limited—the currency pair is fluctuating just below the rising line that was breached earlier this month. In the meantime, the technical indicators on all three relevant time-frames are mixed, meaning we need the price to escape the current trading range in order to make further assumptions regarding its behaviour in the medium-term.

At the moment 56% of the SWFX market participants assume that the single European currency will lose value with respect to the U.S. Dollar, the same percentage as at the end of the last week. At the same time there is almost no difference between the amounts of buy (51%) and sell (49%) orders.