EUR/USD leaves falling resistance line

As suspected, the support at 1.3732, represented by the weekly PP, did not manage to remain intact. Even so, we should note that EUR/USD stayed near the down-trend resistance for a quite long period of time. Nonetheless, the currency pair is now testing the monthly R1, a breach of which would open a path towards subsequent supports, such as 55 and 100-day SMAs at 1.3646 and 1.3620 respectively.

The bearish sentiment has somewhat weakened compared to the yesterday's figures, but a substantial majority of the SWFX traders continue to hold short positions on the single European currency, specifically 64% of them.