© Dukascopy Bank SA
Yesterday's bullish tendency successfully managed to continue, as today the EUR/AUD currency pair experienced another consequent bullish correction, and at the particular moment the currency couple is about to test the weekly PP at 1.2661, which might bring some bearish impetus. In case it is broken, then the price is likely to reach the monthly R2 at 1.2740, which in turn might stop the prevailing bullish movement. Nevertheless, RSI indicator still shows a neutral signal, although the overall indicator outlook has changed to positive.
Traders' sentiment
Traders at SWFX market have slight bullish trend expectations, since 58% of traders hold bullish positions and only 42% of traders hold bearish positions. The situation with orders, however, clearly spots strong downtrend expectations, as only 24% of traders ordered to buy and 76% ordered to sell the Euro.
© Dukascopy Bank SA