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The interim bearish tendency, which started more than a week ago, successfully managed to continue, as today the EUR/AUD currency pair experienced another consequent movement downwards, and at the particular moment the currency couple is about to test the 55-day SMA at 1.2463, which is likely to bring some bullish impulse. In case it is breached, then the price might reach the lower Bollinger band at 1.2390, which in turn is expected to reverse the prevailing downtrend. Moreover, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market have mixed feelings about the EUR/AUD currency couple, as 55% of traders hold bullish positions and 45% of traders hold bearish positions. The distribution of orders, however, spots strong downtrend expectations, since 27% of
traders ordered to buy and 73% ordered to sell the Euro.
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