EUR/USD found support at 1.3529/01

As expected, the support at 1.3529/01 weathered the selling pressure and sent the price back through 1.3570/65. Judging by the technical indicators, the currency pair is likely to gain a foothold above the weekly PP and the 55-day SMA and stay on a bullish path. However, given the weak momentum the price may have trouble breaching the resistances at 1.3640/38 and 1.3711/1.3697.

As noted previously, SWFX market participants are becoming more and more optimistic regarding the ability of the Euro to appreciate relative to the U.S. Dollar. The share of long positions grew by four percentage points to 46%. At the same time there is no difference between the amounts of buy and sell orders.