© Dukascopy Bank SA
Today the EUR/AUD currency couple experienced another consequent movement downwards, which has already managed to overcome the weekly S2 at 1.2499, and at the particular moment the currency pair is about to test the 200-day SMA at 1.2422, which is very likely to stop the prevailing bearish tendency. However, if it fails to slow down the movement downwards, then the price might reach the monthly PP at 1.2367, which in turn might bring some bullish impulse. Moreover the overall indicator outlook remains neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
SWFX market participants have mixed feelings about the EUR/AUD currency couple, as 54% of traders hold long positions and 46% of traders hold short positions. The situation with orders, however, shows some bearish tendency expectations, since only 33% of traders ordered to buy and almost 68% of traders ordered to sell the Euro.
© Dukascopy Bank SA