© Dukascopy Bank SA
Recently, the pair has sagged to more than a five-year low of 1.0495. It managed to recover from this low, albeit slightly and now the pair is faltering between its 50-and 200-hour SMAs. The long-term SMA is meandering above the pair and is likely to mollify the buying pressure stemming from traders' outlook. According to the SWFX data, more than 76% of market players bet on appreciation of the pair.
© Dukascopy Bank SA