EUR/USD to cease being range-bound

The volatility of EUR/USD before this week's major events stays decreased, but is likely to pick up during the remaining two days. Accordingly, either the resistance at 1.3524 or the support at 1.3451/08 will have to give in. And while the latter has a higher chance of being breached, which will lead to a sell-off towards the 200-day SMA, violation of the 55-day SMA may lead to a recovery up to the February high.

Positioning of the SWFX market participants is perfectly unchanged from yesterday—51% of traders expect the Euro to appreciate and 49% expect the U.S. Dollar to gain value. The gap between the amounts of buy (52%) and sell (48%) orders is also insignificant at the moment.