© Dukascopy Bank SA
- Australia & New Zealand Banking Group Ltd.(based on CNBC)
Pair's Outlook
EUR/USD managed to stay above an uptrend support line and rallied up to 1.2369/1.2431, which is supposed to negate bullish impetus and force the pair to stop squeezing shorts and move downwards. Even in case the closest resistance does not contain the price, an area at 1.2519/1.2633 will come into play and prevent the Euro from gaining value more.
Traders' Sentiment
The share of bullish traders (49% at the moment) did not continue to increase yesterday and fell afterwards, leaving the overall traders' sentiment neutral towards the currency couple, despite the Euro staying as the most popular currency. The ratio between buy and sell orders is 54% to 46%, respectively.
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