EUR/USD is unchanged around 23.6% retracement

After a rally observed on Monday, the EUR/USD currency pair decided to hold below the major downtrend line around 1.13 yesterday. Additional resistance for the pair is, however, created by the 23.6% Fibonacci retracement. The broad outlook for the Euro remains unchanged at the moment. The pair is required to consolidate above the monthly R1 (1.1360) in order to confirm the medium-term bullish expectations. The long-term goal for bulls is, in turn, the May high at 1.1470. 

The gap between long and short positions at the SWFX market has been completely unchanged during the past 24 hours, as bulls are still holding 47% of all opened positions.