© Dukascopy Bank SA
Today the EUR/AUD currency pair experienced another movement downwards. therefore maintaining its interim bearish outlook. At the particular moment the price is slowly approaching the weekly S1 at 1.2152, which is likely to bring some bullish impulse, however, if it is breached, then the currency couple might decline until the lower Bollinger band at 1.2081, which in turn is expected to stop the prevailing tendency. Additionally, RSI indicator shows a buy signal, therefore supporting the potential tendency change in the nearest future.
Traders' sentiment
SWFX market participants expect the Euro to gains value against the Australian Dollar, since 60% of traders hold long positions and 40% of traders hold short positions. The situation with orders, however, shows slight downtrend expectations, as 33% of traders ordered to buy and 67% ordered to sell the single currency.