EUR/USD denied by 1.3568/52

EUR/USD did not manage to gain a foothold above 1.3568/52 yesterday, but nonetheless remains bullish, being that none of the nearest supports were violated when the currency pair started to retreat after attaining a new high. There is a possibility, however, that the Euro will first come down to the area at 1.3458/44 before re-challenging the resistance that safeguards Feb high at 1.3711.

While the level of U.S. Dollar's popularity has been on the decline lately (the share of Dollar-long positions in its crosses has fallen from 66% to 60%), the Euro is apparently getting more and more attractive in the SWFX marketplace. Right now 42% of all the positions on EUR/USD are long, yesterday their portion was only 35%.