© Dukascopy Bank SA
- Credit Suisse (based on CNBC)
Pair's Outlook
EUR/USD is being continuously sold off and is currently approaching an initial support level at 1.2456/32. In case this area does not withstand bearish pressure, bearish move may extend down to 1.2375 while en route to a long-term target situated at 1.2037. Rallies, on the other hand, should be limited be resistances at 1.2571/99 and at 1.2660/80.
Traders' Sentiment
Sentiment of market participants remains mixed towards EUR/USD, as 56% of positions are long and 44% of them are short, even though the single European currency is the most popular among its major counterparts. As for the orders, 42% of them are to buy the Euro and 58% are to sell it against the U.S. Dollar.
© Dukascopy Bank SA