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– based on Bloomberg
Pair's Outlook
The common European currency fell below the Brexit low level of 1.0912 against the US Dollar on Friday morning. Previously, the currency exchange rate held on to the support provided by the third monthly support level at 1.0929, where it ended Thursday's trading session. However, as Friday's trading began slightly lower than the previously mentioned level of significance, it began to provide resistance, which pressured the pair to move lower. Since the rate now faces minor support levels, it is most likely that the fall will continue.
Traders' Sentiment
SWFX traders continue to increase their bullish sentiment, as 59% of open positions are long on Friday. In the meantime, 63% of pending commands are set up to sell the Euro.
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