© Dukascopy Bank SA
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
Following a quick rally of EUR/USD at the end of the last week, the currency pair is consolidating ahead of a resistance located at 1.2660. In case it is overcome, the price will face even stronger levels at 1.2746/77 and 1.2848/1.2900, which are unlikely to be breached any time soon, given the bearish outlook suggested by the majority of technical indicators on weekly and monthly time frames.
Traders' Sentiment
The single European currency remains as the most frequently (69%) bought on SWFX marketplace, followed by the Australian Dollar. Nonetheless, traders' sentiment towards EUR/USD is currently mixed, since the share of long positions on the pair is 52% and the portion of short ones is 48%.
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