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- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
The major currency pair fluctuates around the weekly PP level at 1.3326 and the monthly R1 at 1.3373 and after three attempts last week is still unable to breach it. The pair is traded in the upper part of Bollinger bands, but it is very likely that EUR/USD will reach the 20-day SMA at 1.3233 and test it. If a down-side scenario gets momentum, the price might reach a 1.3125 level, where the monthly PP intersects the 55-day SMA and the weekly S3. In a up-side case, the price might face difficulties at a 1.3473 level, where the weekly R2 merges the Bollinger band.
Traders' Sentiment
SWFX market traders remain bearish, since 67% of positions are short and only 33% are long. Pending orders segment is neutral, since both sides have equal shares.
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