© Dukascopy Bank SA
Today the EUR/AUD currency couple experienced a slight bearish reaction, and at the particular moment the currency pair is facing the 200-day SMA at 1.2392, which is expected to stop the downtrend and bring back the bullish tendency, however, if it fails to slow down the movement downwards, then the price is very likely to reach the 20-day SMA, which in turn will probably bring some bullish impulse. Moreover, the overall indicator outlook is bearish, therefore supporting the prevailing movement downwards.
Traders' sentiment
Traders at SWFX market are optimistic about the EUR/AUD currency couple, since 67% of traders hold bullish positions and 33% of traders hold bearish positions. The situation with orders, however, spots slight downtrend expectations, as 38% of traders ordered to buy and 62% ordered to sell the Euro.
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