© Dukascopy Bank SA
The bullish trend, which started a couple of days ago, has failed to continue, as today the EUR/AUD currency pair experienced a slight bearish reaction. As for now, the price is slowly approaching the weekly S1 at 1.2567, which might bring some bullish impulse. In case it fails to stop the downtrend, then the currency couple is very likely to reach the lower Bollinger band at 1.2499, which in turn is expected to reverse the prevailing movement downwards. Nevertheless, the overall indicator outlook remains neutral, and it is not expected to change in the nearest future.
Traders' sentiment
Traders at SWFX market have mixed feelings regarding the EUR/AUD currency couple, since 55% of traders hold bullish positions and 45% of traders hold bearish positions. The situation with orders is quite similar, as 47% of traders ordered to buy and 53% ordered to sell the single European currency.
© Dukascopy Bank SA