EUR/AUD bounces off weekly PP at 1.2323

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Outlook
Today EUR/AUD experienced a small bullish correction, as the price bounced off the weekly PP at 1.2323. As for now the price is slowly heading towards the current price channel support at 1.2364, which might change the direction of the prevailing tendency. In case it fails to stop the rally, then next resistance at 1.2415 (200-day SMA) is very likely to bring some bearish momentum. Nevertheless, RSI indicator shows a neutral signal, but the overall indicator outlook is bullish.

Traders' sentiment
Traders at SWFX market remain neutral regarding the EUR/AUD currency couple, since 52% of traders hold bullish positions and only 48% of traders hold bearish positions. The orders are distributed in the same manner, as 51% of traders ordered to buy and 49% ordered to sell the Euro.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.