© Dukascopy Bank
- Standard Bank (based on CNBC)
Industry outlook
Even though an uptrend support at 1.3168 has managed to underpin the pair, rallies are unlikely to extend above 1.3322. Bearish outlook persists, pushing EUR/USD down to 1.2974/54 en route to 1.2624.
Traders' sentiment
Despite the Euro being the most popular currency at the moment, most of the market participants (52%) have acquired the US Dollar against the single currency.
Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 1.3252, 1.3287 and 1.3333.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3171. If the pair erodes this level, then it might rebound from S2 of 1.3125 or S3 of 1.3090.
© Dukascopy Bank