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- TD Securities (based on Reuters)
Pair's Outlook
The Greenback continuously trades around June high at 1.0961, which tends to slow down the pair's advance for now. Nevertheless, we see the pair trading slightly higher, namely above the 1.10 mark. Around the major level at 1.10 there is a cluster of resistance levels (weekly and monthly R1 at 1.1005/18, May high at 1.1008). The technical studies could push the pair towards these levels. Although, we expect a consolidation before a further appreciation towards this year's high at 1.1280 in the longer term.
Traders' Sentiment
The difference between the amounts of long (47%) and short (53%) positions remains negligible, meaning the sentiment is still neutral. Meanwhile, the share of sell orders fell from 71% to 56%.
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