© Dukascopy Bank SA
- Scotia Bank (based on Reuters)
Pair's Outlook
Pair did not manage to consolidate above the 6 month high and at the moment is trading supported by the 20-day SMA. Although short term technicals point at appreciation of the pair it seems that the pairs has topped out and should trail towards the 1.323. A strong bullish impetus from the 20-day SMA (like a few days ago) remains a possibility, but once again the pair should show a solid close above the 6 month high to put higher resistance levels on the map.
Traders' Sentiment
It seems that some uncertainty is coming back in to the market. Basis form this is given by the fact that share of bears in the market decreased by 4% and is at 60% gauge at the moment and pending orders are perfectly evenly distributed between the long and short orders.
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