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- CIBC World Markets (based on Bloomberg)
Pair's Outlook
The pair still seems supported around the weekly S1 and 200-day SMA at 1.0922; however, the Greenback has failed to climb higher. In the current situation a drop below the 1.09 mark is not likely; although, a minor fall towards the level is possible. The technical indicators continuously give a buy signals in a daily and monthly period, suggesting that the pair will pick up pace and challenge the resistance levels ahead.
Traders' Sentiment
The sentiment towards the pair is completely neutral at the moment, as there is a lot of uncertainty. The gap between the buy (31%) and sell (69%) orders placed 100 pips from the spot is much more significant.
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