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Supports: 1.1653; 1.1621; 1.1578
Outlook
EUR/AUD continues its bearish trend that was started yesterday and has nearly reached a new low. For now, movement downwards is expected to persist, however, RSI indicator shows a buy signal, therefore soon a bullish bounce back might be expected. EUR/AUD might face support at 1.1653 (Weekly S2), but if it fails to stop bearish tendency, then next support at 1.1621 (Lower Bollinger Band) is likely to stop current advancement downwards. Present resistance levels are at 1.1705, 1.1741 and 1.1780 and there are no signs for them to be broken.
Traders sentiment
Traders at SWFX market became much more optimistic about EUR/AUD currency pair, because almost 71% of traders now hold long positions, anticipating that the Euro will gain value against the Aussie. The situation with orders has also changed, as 81% of traders ordered to sell and 19% of traders ordered to buy the single European currency.