© Dukascopy Bank SA
- Westpac Securities (based on CNBC)
Pair's Outlook
Resistance at 1.3140/64 somewhat delayed advancement of the pair, but may be insufficient to force it to undergo a more pronounced bearish correction. Accordingly, we are likely to see extension of a rally that is not currently facing any significant levels. Potentially, however, 1.3269 and 1.3402/25 could impede growth of the price, being that the latter is reinforced by a long-term downtrend resistance line.
Traders' Sentiment
SWFX trader's sentiment index reveals that market participants generally anticipate EUR/USD to fall, since only 38% of them believe the price will carry on surging, while 62% stay bearish on the pair. On the other hand, buy orders (61%) exceed sell orders (39%) and thus will provide additional support to the currency couple.
© Dukascopy Bank SA