© Dukascopy Bank SA
Yesterday's bullish correction successfully managed to continue, and today the EUR/AUD currency couple experiences another bullish advance, which at the particular moment is gradually heading towards the weekly R1 at 1.2389, which might slow down the tendency upwards. However, if it fails to stop the rally, then the price might reach the 200-day SMA at 1.2415, which is expected to reverse the prevailing movement upwards. Moreover, RSI still remains in the neutral area, although the overall indicator outlook still remains positive.
Traders' sentiment
Traders at SWFX market have mixed feelings regarding the potential strength of the single European currency, since 52% of traders hold bullish positions and 48% of traders hold bearish positions. The situation with orders is rather similar, as 48% of traders ordered to buy and 52% ordered to sell the Euro.
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