EUR/USD looks for contact with 1.37

EUR/USD has nearly reached the 200-day SMA last week, but at the moment it is trading just above the 20-day SMA and weekly PP. Still, there are good chances the currency pair is going to attempt to test the resistance around 1.37 in the nearest future, since it has recently bounced off the support at 1.35, and monthly technical indicators are mostly bullish. On the other hand, it must be noted that the daily and weekly studies are currently bearish.

There were no changes neither in the distribution between the long (46%) and short (54%) positions, nor between the buy (39%) and sell (61%) orders over the weekend, meaning the sentiment is neutral, but the selling pressure is likely to intensify if the volatility increases.