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- BK Asset Management (based on Reuters)
Pair's Outlook
As anticipated, the currency pair has stepped back from the falling support line at 1.3044. However, a bullish correction may have already come to an end, as the 100-day SMA at 1.3156 is proving to be a strong resistance level. Moreover, daily technical studies started to point to the downside, suggesting that the rally should be tepid, also being that the rising trend-line has recently given in.
Traders' Sentiment
The gap between the bulls (53%) and bears (47%) has widened since the last update of the sentiment index, but the advantage is too small for now to predicate anything. The difference between the buy (44%) and sell (56%) orders is larger, but at the same time tilted to the other side.
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