EUR/USD consolidates above 1.3612/1.3596

Two moving averages, namely the ones for 55 and 100 days, continue to underpin the currency pair, postponing a likely decline in the longer perspective. According to the technical indicators, which are mixed on all the time-frames, this support may stay intact for quite some time. Still, given that EUR/USD received strong bearish impetus after touching the long-term resistance trend-line at 1.3832, the risks are heavily skewed to the downside.

Traders' sentiment towards EUR/USD stays moderately bearish—right now 58% of positions are short and the remaining 42% are long. The share of sell orders, on the other hand, has significantly increased, from 61% up to 74%.