EUR/USD reaches target at 1.1060

As expected, EUR/USD's bears managed to send the pair to the near-term target around 1.1060, where 100-day SMA and weekly S1 are currently placed. At the moment the Euro is projected to rebound moderately from the mentioned support lines, but the overall sentiment is still negatively biased towards the common currency. In spite of any possible advance in the short-term, bears will aim to push the Euro in the direction of Jun 29 low at 1.0954. 

After improving for five consecutive days, the share of SWFX long open hit the 50% threshold in the past 24 hours, by gaining two percentage points on a daily basis. Buy pending orders in 100-pip range from the spot rose one percentage point to 44%.