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The downtrend, which started a couple of days ago, successfully managed to prevail, as today EUR/AUD has already managed to drop below the weekly PP, and at the particular moment the price is heading towards the monthly R1 at 1.2555, which might bring some bullish impetus, however, if it fails to stop the downtrend, then next resistance at 1.2499 (weekly S1) will probably slow down the current movement downwards. In addition, the overall indicator outlook now is bullish, therefore a soon trend reversal might happen.
Traders' sentiment
Traders at SWFX market are neutral regarding the EUR/AUD currency couple, as 54% of traders hold long positions and 46% of traders hold short positions. The situation with orders, however, spots some downtrend expectations, since exactly 40% of traders ordered to buy and 60% ordered to sell the Euro.
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