© Dukascopy Bank SA
- Citigroup (based on Reuters)
Industry outlook
The pair is continues to advance towards the 7-month high area at 1.3449/57 and it is likely to bounce off that level. As there is a high probability that EUR/USD will hold above that level, it might retrace to 1.3291 and 1.3237 respectively. If all those levels are pierced, recent low at 1.3004 might be targeted next.
Traders' sentiment
Bearish expectations grow among the market participants compared to yesterday as the share of short orders inched higher versus the long ones (58.69% vs. 41.31%).
Long position opened
Bullish traders on EUR/USD should be aware of initial R1 at 1.3367. If it is left behind, investors should await the upcoming resistance levels at 1.3418 and 1.3463 to be approached further today.
Short position opened
Market players, holding short positions on the currency pair, will be faced the immediate support line at 1.3271. If it is successfully tested, the next levels are located at 1.3226 and 1.3175 accordingly.
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