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The bearish trend, which started yesterday, successfully managed to continue, as today the EUR/AUD currency couple experienced a significant bearish movement, which has already managed to breach the weekly PP at 1.2363, and at the particular moment the currency pair is gradually approaching the 20-day SMA at 1.2311, which might bring some bullish impulse, however if it is broken, then the price might reach the lower Bollinger band at 1.2217, which in turn is expected to reverse the prevailing movement downwards. Moreover, the overall indicator outlook is neutral, therefore no significant tendency changes are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are optimistic about the EUR/AUD currency couple, since 63% of traders hold bullish positions and 37% of traders hold bearish positions. The situation with orders is quite neutral, as 47% of traders ordered to buy and 53% ordered to sell the Euro.
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