© Dukascopy Bank SA
The bullish correction, which occurred yesterday, failed to continue, as today the EUR/AUD currency couple experienced a slight bearish reaction. As for now, the currency pair is heading towards the 20-day SMA at 1.2588, which is very likely to bring some bullish impulse. If it is breached, then the price might reach the weekly S1 at 1.2505, which in turn will probably slow down the prevailing tendency. Moreover, the overall indicator outlook now is bullish, therefore a soon trend reversal should be expected.
Traders' sentiment
Traders at SWFX market are optimistic about the EUR/AUD exchange rate, as 57% of traders hold bullish positions and 43% of traders hold bearish positions. The situation with orders, however, shows some downtrend expectations, since 39% of traders ordered to buy and 61% ordered to sell the Euro.
© Dukascopy Bank SA