© Dukascopy Bank SA
- Banco Santander SA (based on Bloomberg)
Pair's Outlook
The US Dollar climbed over the 1.2962 psychological resistance, even managing to retake the 1.30 major level yesterday. The Buck is poised for another rally today, now aiming to reclaim the 1.31 mark as well. Technical indicators are also bolstering the possibility of the positive outcome, as they retain bullish signals. The closest resistance is located at 1.3047, represented by the weekly R1, while the second cluster lies around 1.3140, formed by the Bollinger band and the weekly R2. However, gains will doubtfully extend that high, unless the fundamental data turns in US Dollar's favour again.
Traders' Sentiment
Traders' sentiment remains unchanged, as 51% of all traders are long the Buck. At the same time, the number of orders to acquire the US Dollar increased from 45 to 69%.
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