EUR/USD pierced through 1.2584/66

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market looks primed for a 25 basis point cut by the ECB, but something more like a liquidity injection would be needed to lift the euro"
- RBS (based on CNBC)

Pair's Outlook
The currency pair has breached a support line at 1.2584/66 and is approaching a subsequent level at 1.2476, which is unlikely to provide sufficient resistance in order to delay to a significant extent movement of EUR/USD lower. Additional levels are to be found at 1.2430/1.2386 and at 1.2299. Rallies on the other hand should be contained by 1.2566/84 and 1.2646.

Traders' Sentiment
Status quo of bullish and bearish sentiments towards EUR/USD has been disrupted, as now more traders stay long on the pair - 53%. Accordingly, 47% of positions are short, since the Euro is the most popular currency relative to its major counterparts. The ratio between buy and sell orders, on the other hand, is 43% to 57%, respectively.

© Dukascopy Bank SA
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Thu, 05 Jul 2012 07:31:50 GMT

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