© Dukascopy Bank SA
- Christopher Lewis, Analyst (based on FX Empire)
Pair's Outlook
The common European currency traded almost flat on Tuesday morning against the US Dollar. Previously, the currency exchange rate surged and ended day's trading at 1.1173 level. However, during the session it managed to reach the resistance cluster above it at 1.1190, and the rate bounced off it. The pairs fluctuations on Tuesday morning occur between the before mentioned resistance cluster and two simple moving averages below at 1.1156 and 1.1147. It is most likely, that the pair will remain in limbo between the two levels for the rest of the day.
Traders' Sentiment
SWFX traders remains short on the pair, as 61% of open positions are bearish. In the meantime, pending commands are 54% to sell the currency pair.
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