EUR/USD to slide down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"An undramatic summit result could be a catalyst for speculative accounts to reset short positions in the euro and growth-sensitive currencies. We remain bullish on the U.S. dollar heading into this week's events "
- Credit Suisse (based on CNBC)

Pair's Outlook
EUR/USD is being continuously sold off and is currently approaching an initial support level at 1.2456/32. In case this area does not withstand bearish pressure, bearish move may extend down to 1.2375 while en route to a long-term target situated at 1.2037. Rallies, on the other hand, should be limited be resistances at 1.2571/99 and at 1.2660/80.

Traders' Sentiment
Sentiment of market participants remains mixed towards EUR/USD, as 56% of positions are long and 44% of them are short, even though the single European currency is the most popular among its major counterparts. As for the orders, 42% of them are to buy the Euro and 58% are to sell it against the U.S. Dollar.

© Dukascopy Bank SA
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Actual Topics

Tue, 26 Jun 2012 07:27:09 GMT

GBP/USD to bounce off 1.5557

After piercing through a support at 1.5667/38, a fall of the currency pair has been gradually slowing down ahead of 1.5557. Accordingly, at the moment GBP/USD is set to reverse negative trend and commence recovery, as suggested by most of daily technical indicators. An interim resistance is located at 1.5638/67, followed by 1.5719/62 and 1.5795.

Mon, 25 Jun 2012 15:42:00 GMT

NZD/USD failed to hold above 0.7961; might fall further

NZD inched lower against the American dollar, holding a mild bearish bias. If it intensifies, 0.7810 is likely to be the next target for bears, which successful breach would expose 0.7742 (PP/S2 Monthly) and 0.7678 (23.80% Fibo). However, 0.7810 is prone to become a strong support, from which bullish investors are probably going to initiate bullish correction.

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