EUR/USD touched 7-month low at 1.0565

A first bunch of strong US data boosted the Dollar on Wednesday, thus sending EUR/USD down to a 7-month low of 1.0565. However, later the pair rebounded to close the session somewhat above 1.0620. However, the bias is negative and we foresee additional losses for the Euro in the foreseeable future. Yesterday's development confirms ability of EUR/USD to slide as low as April low at 1.0519. This is the closest major support for the pair, which should be able to cap a sell-off for some period of time.

SWFX open positions are swinging between gains and losses as the share of bulls rose from 49% to 51% in the past 24 hours. 48% of pending orders are set to buy the Euro in both 50 and 100-pip ranges, up from only 36% and 39% on Wednesday, respectively.