EUR/USD stuck in 1.13/1.1262 support zone

EUR/USD was sent downwards after somewhat positive US statistics, and the pair has finally managed to confirm the 1.13 mark. However, the Euro seems to be stuck in between some important technical levels, namely the 23.6% Fibonacci retracement at 1.1295 and weekly/monthly pivot points at 1.1274/62. Moreover, the latter are also followed by 20-day SMA, complicating the bearish case in the short-term. We still expect EUR/USD to hover without any major changes until tomorrow, when there is going to be the Fed rate decision. In addition, daily indicators are mixed at the moment.

EUR/USD's sentiment was unchanged at 47% yesterday. On the other hand, the portion of long pending orders in 100-pip range from the spot rose further from 54% to 60%.