© Dukascopy Bank SA
The bearish tendency, which started yesterday, successfully managed to continue, and today the EUR/AUD currency pair experienced a significant bearish reaction. At the particular moment the currency couple is about to test the lower Bollinger band at 1.2499, which is expected to stop the current movement downwards. In case it is breached, then the price will probably reach the weekly S2 at 1.2469, which in turn might bring some bullish impulse. Moreover, the overall indicator outlook is bearish, therefore supporting the prevailing bearish trend.
Traders' sentiment
Traders at SWFX market remain neutral regarding the EUR/AUD currency couple, since 54% of traders hold long positions and 46% of traders hold short positions. The situation with orders, however, spots some downtrend expectations, as 35% of traders ordered to buy and 65% ordered to sell the Euro.
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