© Dukascopy Bank SA
Supports: 1.1671; 1.1657; 1.1545
Outlook
Yesterday's bullish correction failed to continue today, and now a bearish movement takes place. EUR/AUD already managed to break through the weekly PP at 1.1716, and now it is about to challenge the lower Bollinger band at 1.1671, which might slow down the downward tendency. In case it is breached, then next support at 1.1657 (weekly S1) will probably reverse the bearish trend. Moreover, RSI indicator shows neutral signal, therefore the currency couple is neither over-bought nor over-sold.
Traders' sentiment
Traders at SWFX market became completely neutral regarding the EUR/AUD currency pair, since exactly 50% of traders hold long positions and 50% of traders hold short positions. However, the situation with orders shows that traders expect the Euro to lose value against the Australian Dollar, as 71% of traders ordered to sell and only 29% ordered to buy.