EUR/USD pulls back to down-trend

After bouncing off the 200-day SMA and falling as low as 1.2750, the currency pair has returned back to the declining resistance line that has been safeguarding the down-trend since February, when the price reached a mark of 1.3710. The latest rally has occurred despite the daily indicators turning bearish, although the signal is yet weak and could strengthen later on.

Some of the bullish marketplace participants have managed to take profits on the recent rally, since the share of long positions has fallen down to 47%. A similar change was observed among pending orders, as the portion of buy ones has declined to 48% from 51% recorded yesterday.