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The interim uptrend successfully manages to continue, and today the EUR/AUD currency couple experienced another bullish correction. At the particular moment, the price is about to test the 200-day SMA at 1.2389, which is expected to bring some bearish impetus. If it is breached, then the price is likely to advance until the upper Bollinger band at 1.2461, which is very likely to reverse the prevailing movement upwards. Besides, RSI indicator shows a strong sell signal, therefore a soon tendency reversal should be expected.
Traders' sentiment
Traders at SWFX market are neutral regarding the EUR/AUD currency pair, since 54% of traders hold bullish positions and 46% of traders hold bearish positions. The orders are distributed is a similar manner, as 47% of traders ordered to buy and 53% ordered to sell the single European currency.