© Dukascopy Bank SA
- ANZ Bank New Zealand Ltd. (based on San Francisco Chronicle)
Pair's Outlook
Pair remains in the boundaries of the accelerated uptrend, but seems to be loosing potential as monthly R2 is keeping the pair depressed. A peak above 1.360 would uplift some of the downside risk, but we would still have strong resistance area at 1.367/371 ahead of us in such case. Sell offs should find support at 1.345 area. Unexpected dip below it could send the pair to the last week's low at 1.333.
Traders' Sentiment
Pair started the week in a rather calm manner. As a consequence, we do not observe any major changes in the market sentiment. Greenback remains on of the most bought major currencies across the boards. 69% of traders, same share as on Friday, are already short on the pair. In addition, 55% of pending orders remain to be set to go long on the pair.
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