© Dukascopy Bank SA
Today the EUR/AUD currency pair experienced a significant bearish reaction, which has already managed to cross the weekly PP at 1.2323, and now the currency couple is heading towards the weekly S1 at 1.2256, which might bring some bullish impulse. In case it is breached, then the price might reach the 20-day SMA at 1.2159, which in turn will probably stop the prevailing downtrend. Moreover, RSI indicator went out of the over-bought area, and now it shows a neutral signal.
Traders' sentiment
SWFX market participants maintain neutral regarding the potential strength of the single European currency, as 51% of traders hold long positions and 49% of traders hold short positions. The situation with orders is rather similar, since 46% of traders ordered to buy and 54% ordered to sell the Euro.
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