© Dukascopy Bank SA
The bullish trend, which started three days ago, failed to continue, as today EUR/AUD experienced a slight bearish reaction, and at the particular moment the price is about to test the upper Bollinger band at 1.2665, which might bring some bullish impulse. In case it is breached, then the currency pair is likely to reach the weekly R3 at 1.2575, which in turn will probably stop the prevailing movement downwards. Moreover, the overall indicator outlook is neutral, and current resistances are at 1.2707, 1.2740 and 1.2929, and they seem to be secure for now.
Traders' sentiment
Traders at SWFX market maintain mixed feelings regarding the EUR/AUD currency pair, since 54% of traders hold long positions and 46% of traders hold short positions. The distribution of orders shows slight downtrend expectations, as 42% of traders ordered to buy and more than 58% ordered to sell the single European currency.
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