© Dukascopy Bank SA
Today EUR/AUD experienced a small bullish correction, as the price bounced off the weekly PP at 1.2323. As for now the price is slowly heading towards the current price channel support at 1.2364, which might change the direction of the prevailing tendency. In case it fails to stop the rally, then next resistance at 1.2415 (200-day SMA) is very likely to bring some bearish momentum. Nevertheless, RSI indicator shows a neutral signal, but the overall indicator outlook is bullish.
Traders' sentiment
Traders at SWFX market remain neutral regarding the EUR/AUD currency couple, since 52% of traders hold bullish positions and only 48% of traders hold bearish positions. The orders are distributed in the same manner, as 51% of traders ordered to buy and 49% ordered to sell the Euro.
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