EUR/USD to find support at 1.3516

EUR/USD is currently testing the weekly pivot point at 1.3564, but may come down to 1.3516. There it is likely to be supported by the rising trend-line that has been breached a couple of times, but has nonetheless stayed relevant since the mid-May. However, we may not rule out a possibility of a deeper correction, in which case the supports at 1.3451 and 1.3398/74 will have to come into play.

The bears continue to dislodge the bulls from the market, but at a slow pace, being that the share of the former increased up to 65% from 64% within the past 24 hours. At the same time the distribution between the buy (53%) and sell (47%) orders is completely unchanged.