EUR/AUD confronts 1.1768

© Dukascopy Bank SA

Resistances: 1.1768; 1.1827; 1.1886
Supports: 1.1716; 1.1650; 1.1545

Outlook
EUR/AUD currency pair experiences another bullish reaction today, after the recent decline was stopped at 1.1729, and now the price is facing a 20-day SMA at 1.1768, which might change the presently established tendency. In case it is broken, then the currency couple might reach monthly R1 at 1.1827, which will probably reverse the bullish tendency. Moreover, RSI indicator went out of the over-sold area and shows neutral signal, therefore at the particular moment EUR/AUD is neither over-bought nor over-sold.

Traders' sentiment
Traders' sentiment at SWFX market remains neutral, as 49% of traders hold long positions and 51% of traders hold short positions. In contrast, the situation with orders clearly spots that traders expect the Euro to lose value against the aussie, since 68% of traders ordered to sell the Euro.