EUR/USD in limbo between weekly PP and S1

EUR/USD showed another relatively volatile trading session, considering that both opening and closing levels of the day were located close to each other. The pair attempted to climb as high as weekly PP at 1.1090, but all gains were eventually erased. At the moment it hovers below the 100-day SMA at 1.1015, which is capable of sending the Euro substantially downwards. The initial support is the yesterday's low at 1.0964, followed by the Jul 7 low at 1.0916. 

Sentiment among SWFX market participants has finally left the vicinity of the 50% mark, and yesterday the share of bullish open positions rose from 51% to 54%.