© Dukascopy Bank SA
The bullish trend, which started three days ago, successfully managed to advance even further, and now the EUR/AUD currency couple confronts the upper Bollinger band at 1.2529, which might slow down the uptrend. In case it is breached, then the price might advance until the monthly R2 at 1.2630, which in turn is very likely to bring some bearish momentum. Additionally, RSI indicator shows a neutral signal, although the overall indicator outlook remains positive, therefore supporting the prevailing movement upwards.
Traders' sentiment
Traders at SWFX market have mixed feelings about the potential strength of the single European currency, since 54% of traders hold bullish positions and 46% of traders hold bearish positions. Besides, the orders are distributed in a similar manner, as 52% of traders ordered to buy and 48% ordered to sell the Euro.
© Dukascopy Bank SA