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- Forex.com (based on Reuters)
Pair's Outlook
Absence of bearish impetus made the price bounce from a 1.3043 level, where the 55-day, 200-day SMAs and monthly R1 level merge into the major support. The price surged from it to the 100-day SMA and R1 at 1.3171, where the pair took a break. Today, there is a high possibility of further appreciation, as aggregate market sentiments are positive and investors prefer to buy higher yield assets.
Traders' Sentiment
An opened positions segment in SWFX market exhibits a bearish exposure, as 57% of positions are short and stand for expectations to experience a correction from the highest point since 25th of February. Pending orders segment is slightly bullish with 55% of buy orders.
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