© Dukascopy Bank SA
The bearish reaction, which occurred yesterday. did not manage to continue, as today EUR/AUD experienced a significant bullish correction, which has already managed to overcome the monthly PP at 1.2653, which will probably bring some bearish impulse. In case it is broken, then the price might reach the weekly R1 at 1.2800, which in turn is very likely to slow down the prevailing rally. Moreover, the overall indicator outlook is bullish, therefore supporting the current tendency upwards.
Traders' sentiment
Traders at SWFX market are optimistic regarding the EUR/AUD currency pair, since 58% of traders hold bullish positions and 42% of traders hold bearish positions. The situation with orders, however, spots some bearish tendency expectations, as only 33% of traders ordered to buy and 67% ordered to sell the Euro.
© Dukascopy Bank SA