© Dukascopy Bank
Today the EUR/AUD currency pair experienced another slight bullish correction, and at the particular moment the currency couple is gradually approaching the monthly R1 at 1.2555, which might slow down the prevailing rally, however, if the support level is breached, then the price is very likely to advance even further until the 20-day SMA at 1.2584, which in turn will probably change the direction of the prevailing movement upwards. Nevertheless, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are neutral regarding the EUR/AUD currency couple, since 56% of traders hold bullish positions and 44% of traders hold bearish positions. The situation with orders, however, spots some downtrend expectations, as only 31% of traders ordered to buy and 69% ordered to sell the Euro.
© Dukascopy Bank