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Today the EUR/AUD currency couple experiences a small bearish reaction, which stopped the uptrend, which started on September 7th. As for now, the price confronts the weekly PP at 1.2323, which might slow down the prevailing downtrend. In case it fails to stop the bearish movement, then next support at 1.2256 (weekly S1) is very likely to bring some bullish impulse. Although RSI indicator still shows a sell signal, the overall indicator outlook remains positive.
Traders' sentiment
SWFX market participants maintain mixed feelings regarding the EUR/AUD currency pair, as 49% of traders hold short positions and 51% of traders hold long positions. The distribution of orders is very similar, since 48% of traders ordered to buy and 52% ordered to sell the single European currency.
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