EUR/USD preserves bullishness

EUR/USD appears not to be in a hurry to erode the 55-day SMA that guards a key support zone at 1.3274/53. Once the currency pair steps below the latter level the outlook will be changed to negative, as this area has been guiding the price upwards since Jul 24. In the meantime, the bias remains bullish with a scope towards 1.3660 and possibly even higher, while current weakness is viewed as a temporary correction.

Traders' sentiment towards the major currency pair remains more or less the same, as the ratio between long and short positions is 44% to 56% accordingly. As for the orders placed on EUR/USD, 58% of them are to purchase the single European currency and the rest, 42%, are to sell it against the buck.