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The bearish trend, which started a couple of days ago, has successfully managed to continue, as today the EUR/AUD currency pair experienced another slight movement downwards. At the particular moment the currency couple confronts the lower Bollinger band at 1.2499, which is expected to reverse the prevailing bearish tendency. In case it is breached, then the price might reach the 200-day SMA at 1.2450, which in turn will probably stop the current downtrend. Nevertheless, the overall indicator outlook has changed to neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are neutral regarding the EUR/CAD currency couple, as 54% of traders hold bullish positions and 46% of traders hold bearish positions. The distributions of orders, however, spots slight downtrend expectations, since 35% of traders ordered to buy and 65% ordered to sell the single European currency.
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