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- Brown Brothers Harriman & Co. (based on Bloomberg)
Industry outlook
EUR/USD should remain capped by a tough resistance located at 1.3291/1.3325, which is expected to contain near-term rallies. The immediate support on the other hand is at 1.3135, followed by a key level at 1.2974/54.
Traders' sentiment
Traders' sentiment remains neutral on EUR/USD, although the tendency has changed, as bulls (53%) now outnumber bears (47%) in the market.
Long position opened
The initial resistance level for intraday trading is 1.3288. Bulls might establish additional targets at 1.3339 and 1.3412 if the Euro appreciates more.
Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 1.3164. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 1.3091 and at S3 of 1.3040.
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