"As long as the price is above the bottom trend line, the pair remains in bullish structure."
— Forex Cycle (based on investing.com)
Pair's outlook
The surge, which was expected to occur during Monday's trading session, has occurred in the first half of Tuesday's trading. The currency exchange rate has broken through the resistance put up by the weekly PP at 1.3461 and the 55-day SMA at the 1.3482 level. Due to that it is expected that the currency pair will reach for the next resistance level. The next notable resistance is put up by two close by located levels of significance. Namely, it is the monthly PP at 1.3527 level and the first weekly resistance at the 1.3534 mark. It can be expected that the pair will pause at the just described levels of significance before continuing to surge.
Traders' sentiment
SWFX traders remain bearish, as 58% of open positions are short. Meanwhile, 54% of trader set up orders are to sell the Buck.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -18% | -20% | -20% | |
| Orders | -2% | -2% | -20% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↘ | ↗ | ↗ | |