EUR/USD forces its way through 1.3607/1.3572

EUR/USD continues to move farther and farther away from the major down-trend resistance line. At the moment the currency pair is eroding a combination of the 55 and 100-day simple moving averages. Once this support is breached, among the significant levels nearby there will be only the monthly S1 at 1.3545 left before the 2013 August high at 1.3451 is reached.

Being that the popularity of the U.S. Dollar in the SWFX market is decreasing, the advantage of bears over bulls in EUR/USD diminishes as well. Their share declined to 57% from 59%. Meanwhile, the number of buy orders around the spot plummeted from 80% down to 46%.