© Dukascopy Bank
- Westpac Banking Corp. (based on Bloomberg)
Industry outlook
A support at 1.2954 has managed to withstand the initial test, but, given the tepid rally afterwards, is expected to give in eventually. EUR/USD should be aiming for 1.2624, while being capped by 1.3081.
Traders' sentiment
Traders' sentiment is currently neutral on EUR/USD currency pair, since the shares of long and short positions are nearly the same, being 52% and 48%, respectively.
Long position opened
Largest brokers set a new long position target as a break of 1.3091 may become an encouraging bullish sign en route to 1.3133. If the uptrend remains, the third target for intraday trading will be 1.3201.
Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 1.2981. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 1.2913 and 1.2871.
© Dukascopy Bank