© Dukascopy Bank SA
The bearish reaction, which occurred yesterday, successfully managed to continue, as today the EUR/AUD currency couple experienced another consequent movement downwards, which at the particular moment is about to test the lower Bollinger band at 1.2348, which is expected to stop the current downtrend. In case it is breached, then the currency pair might reach the weekly S1 at 1.2301, which in turn will probably bring some bullish impulse. Moreover, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are neutral about the EUR/AUD currency couple, since 55% of traders hold bullish positions and 45% of traders hold bearish positions. The situation with orders, however, shows very strong downtrend expectations, as only 11% of traders ordered to buy and more than 89% ordered to sell the Euro.
© Dukascopy Bank SA