© Dukascopy Bank SA
Today the EUR/AUD currency couple experienced another consequent movement downwards, therefore supporting the downtrend, which started more than a week ago. As for now the currency pair is slowly approaching the lower Bollinger band at 1.2159, which is expected to stop the prevailing tendency. In case it is broken, then the price might reach the monthly S2 at 1.2104, which in turn is very likely to bring some bullish impetus. Moreover, the overall indicator outlook is bearish, therefore supporting the current movement downwards.
Traders' sentiment
Traders at SWFX are optimistic about the EUR/AUD currency couple, as 60% of traders hold bullish positions and 40% of traders hold bearish positions. In contrast, the situation with orders shows strong bearish tendency expectations, since only 26% of traders ordered to buy and 74% ordered to sell the Euro.
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