EUR/USD probes 1.27

The Euro keeps grinding higher—the pair has already reached the initial resistance at 1.27 represented by the weekly pivot point and 20-day SMA. If the bullish tendency persists, the next supply area to try to stop the advancement is going to be at 1.2744 (2013 low). Still, the key level is 1.28, as it unites the monthly PP, weekly R1, 55-day SMA and a down-trend. This zone is expected to retain the medium-term bearish outlook intact.

While the sentiment towards EUR/USD is neutral, interestingly enough, an increase in the value of the common currency was associated with a rise in the share of the buy orders—from 50 to 57%.