© Dukascopy Bank SA
The interim uptrend, which started less than a week ago, has successfully managed to continue, as today the EUR/AUD currency pair experienced another strong movement upwards, which has already managed to breach the 200-day SMA at 1.2368, and at the particular moment the price is about to face the 55-day SMA at 1.2430, which is very likely to stop the bullish trend, however, if it is broken, then the currency couple will probably reach the weekly R1 at 1.2475, which in turn might bring some bearish momentum. Nevertheless, the overall indicator outlook is neutral, therefore no trend reversals should be expected in the nearest future.
Traders' sentiment
Traders at SWFX marketplace expect the Euro to gain value against the Australian Dollar, as 65% of traders hold long positions and 35% of traders hold short positions. The situation with orders, however, spots strong downtrend expectations, since almost 69% of traders ordered to sell the single currency.
© Dukascopy Bank SA