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- National Australia Bank (based on Reuters)
Pair's Outlook
A considerable plunge of the EUR/USD pair continued back on Friday. The single currency declined even below the 1.15 major level and crossed an important support provided by the monthly S3 at 1.1466. However, towards the end of trading pair returned back to close at 1.1561. In the short-term, there is a potential for the cross to rebound up to the weekly pivot point/2005 low around 1.1635. Despite that, the medium and long-term outlook tends to remain strongly bearish for the Euro.
Traders' Sentiment
Market sentiment on EUR/USD pair remains rather neutral, while the overall advantage of bulls over bears is still negligible at 52% versus 48%.
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