EUR/USD falls to 1.1260 after bearish rally

US fundamentals used to have little influence on the Dollar, because this currency continued to advance at the fastest daily pace since January. EUR/USD sank 112 pips and put an end to the eight-day long sideways development. It breached the weekly S1 and the 20-day SMA, thereby switching attention to the 1.12 mark that is backed by the monthly pivot and the last weekly demand line. An immediate failure below here is unlikely, given the approaching 55-day SMA at 1.1161. Long-term dips will have to be capped by the 200/100-day SMAs at 1.1053/30.  

Just 42% of all SWFX positions are bullish in the morning on Thursday, no change over the preceding working day. Meantime, commands are set predominantly short on the Euro, namely 61% of them.