© Dukascopy Bank SA
Today the EUR/AUD currency pair experienced a significant bearish movement, therefore supporting the interim downtrend, which started a couple of weeks ago. At the particular moment the currency couple is about to test the lower Bollinger band at 1.2327, which is expected to reverse the prevailing tendency, however, if it is broken, then the price might reach the weekly S1 at 1.2296, which in turn will probably bring some bullish impulse. Nevertheless, RSI indicator shows a buy signal, although the overall indicator outlook still remains neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market have slight uptrend expectations, as 56% of traders hold bullish positions and 44% of traders hold bearish positions. The situation with orders, however, spots very strong downtrend expectations, since only 13% of traders ordered to buy and almost 87% of traders ordered to sell the single European currency.
© Dukascopy Bank SA