© Dukascopy Bank SA
Today the EUR/AUD currency couple experienced a slight bullish correction, as the price rebounded from the 55-day SMA, and at the particular moment the currency pair is gradually heading towards the monthly R1 at 1.2555, which will probably bring some bearish momentum. In case it fails to stop the uptrend, then the currency couple might reach the 20-day SMA at 1.2594, which in turn is very likely to slow down the prevailing rally. Moreover, the overall indicator outlook is neutral, and it is not expected to change in the nearest future.
Traders' sentiment
Traders at SWFX market have slight uptrend expectations, as more than 55% of traders hold long positions and less than 45% of traders hold short positions. The situation with orders spots strong downtrend expectations, since 24% of traders ordered to buy and 76% ordered to sell the single currency.
© Dukascopy Bank SA