© Dukascopy Bank SA
Supports: 1.1987; 1.1937; 1.1911
Outlook
The uptrend, which started on August 20th, successfully advances further, and now the EUR/AUD currency couple is slowly heading towards the upper Bollinger band at 1.2079, which is very likely to bring some bearish momentum. In case it is breached, then the currency pair might reach the weekly R3 at 1.2125, which in turn will probably change the direction of the prevailing tendency. In addition, RSI indicator still remains neutral, although it has moved very close to the over-bought area.
Traders' sentiment
SWFX market participants remain completely neutral regarding the EUR/AUD currency couple, as 50% of traders hold long positions and 50% of traders hold short positions. The orders are distributed in a similar manner, since 47% of traders ordered to buy and 53% ordered to sell the single European currency.