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The bearish trend, which started yesterday, has successfully managed to continue, as today the EUR/AUD currency couple experienced another significant movement downwards, and at the particular moment the currency pair is about to test the 55-day SMA at 1.2472, which is very likely to stop the downtrend, however, if it is broken, then the price might reach the 20-day SMA, which in turn will probably slow down the bearish tendency. Moreover, the overall indicator outlook is bullish, therefore supporting the potential trend reversal in the nearest future.
Traders' sentiment
Traders at SFWX market maintain optimism regarding the EUR/AUD currency pair, as 64% of traders hold bullish positions and only 36% of traders hold bearish positions. As for pending orders, their distribution is rather neutral, since 48% of them are to buy and 52% are to sell the single currency.
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