© Dukascopy Bank SA
The slight bullish correction, which occurred yesterday, has failed to continue, as today the EUR/AUD currency couple experienced another consequent significant bearish reaction, and at the particular moment the currency pair is about to face the weekly S1 at 1.2152, which might slow down the current downtrend. In case it fails to stop the prevailing tendency, then the currency pair is likely to reach the lower Bollinger band at 1.2101, which in turn is expected to change the direction of the current movement. Moreover, the overall indicator outlook is bearish, therefore supporting the prevailing trend.
Traders' sentiment
Traders at SWFX market are optimistic about the EUR/AUD currency pair, since 60% of traders hold bullish positions and only 40% of traders hold bearish positions. The situations with orders is quite pessimistic, as 38% of traders ordered to buy and 62% ordered to sell the Euro.
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