EUR/USD supported by 55-day SMA

The common currency managed to rebound for a third consecutive day on Friday, while supported by 55-day SMA, currently at 1.0951. However, EUR/USD failed to return back above the 1.10 round level. At the moment the nearest resistance lies at 1.1050 (20-day SMA; weekly R1), which gives the pair some space for gains in the short-term. On the other hand, in case of a drop below 1.0937 (weekly PP), the Euro's outlook will change back to bearish. 

The gap between long and short positions remains insignificant at the moment, as bulls are keeping 47% of all opened positions. The commands to buy the Euro against the US Dollar in 100-pip range from the spot slumped noticeably over the weekend to 37%.