EUR/USD slips beneath the 20-day SMA

EUR/USD slips beneath the 20-day SMA

'The risks of a rising currency to economic growth in the region is something that the market has taken note of, and the ECB delivered a stark reminder that their policy will remain accommodative.' - OzForex Ltd. (based on Bloomberg)

Pair's Outlook

The major currency pair slipped below the 20-day SMA yesterday, as the price finally pulled away from a flat zone at 1.3584/54. Currently EUR/USD s being supported by 1.3382, a resistance of a price increase one month ago. If consolidation takes a lead further, the next support levels will be the 1.3267/25 zone, where the 55- day SMA and the lower Bollinger line are located.

Traders' Sentiment

Traders’ sentiments on EUR/USD remain unchanged in last few days, as 42% of positions are bullish and 58% are bearish. Pending orders market have a majority in the bullish side, since 55% are orders for a long position and 45% for a short one