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The bullish tendency, which started a couple of days ago, successfully keeps advancing even further, and today the EUR/AUD currency pair advanced even higher, moving closer to the resistance line of the prevailing bullish price channel at 1.2702, which is expected to bring some bearish momentum. If it fails to stop the rally, then next resistance at 1.2740 (monthly R2) will probably slow down the uptrend. In addition, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
SWFX market participants are neutral regarding the EUR/AUD currency couple, as 54% of traders hold bullish positions and 46% of traders hold bearish positions. The situation with orders is completely neutral, since exactly 50% of traders ordered to buy and 50% ordered to sell the Euro.
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