EUR/AUD remains bearish

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Resistances: 1.1706; 1.1781; 1.1818
Supports: 1.1653; 1.1619; 1.1579

Outlook
EUR/AUD currency pair remains bearish, while slowly approaching Weekly S2 at 1.1653, where it might gain some bullish momentum. In case it is breached, then the Lower Bollinger Band at 1.1619 is very likely to reverse short-term tendency. Besides, RSI indicator has already remained for some time in the over-sold area, therefore trend reversal might occur at any time. On the other hand, current resistance levels are at 1.1706, 1.1781 and 1.1818 and seem to be safe at the particular moment.

Traders' sentiment
Traders' sentiment at SWFX market remains mixed, with an insignificantdominance of bearish traders, as 42% of market participants hold long positions on EUR/AUD currency pair and 58% of them hold short positions. The distribution of orders is rather similar, since 67% of traders ordered to sell EUR/AUD currency pair, expecting that the Euro will lose its value against the Australian Dollar.