- Daiwa Capital Markets (based on MarketWatch)
Yesterday the bears tried to take leadership over the EUR/USD currency pair, but all losses were ultimately eroded by revived strength. Therefore, the cross keeps hovering around the February high at 1.1370, while getting ready for the release of FOMC meeting minutes later on Wednesday. A more hawkish surprise here will likely provoke a downshift in prices to the weekly at 1.1326, which is acting as the first immediate support line. However, aggregate daily technical studies are and we are still not ruling out a spike towards the 1.15 area (Oct high; weekly R1).
For a second consecutive day the total number of SWFX's and traders is holding at the same level of 60% and 40%, respectively.