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The bullish tendency, which started two days ago, has failed to continue, as today the EUR/AUD currency couple experienced a slight bearish reaction, and at the particular moment the currency pair is heading towards the monthly S1 at 1.2301, which might bring some bullish impulse, however, if it is breached, then the price might reach the weekly S1 at 1.2152, which in turn is very likely to slow down the prevailing downtrend. Moreover, the overall indicator outlook is bearish, therefore supporting the current tendency.
Traders' sentiment
Traders at SWFX market are optimistic about the EUR/AUD currency pair, since 63% of traders hold bullish positions and 37% of traders hold bearish positions. The situation with orders spots some bearish trend expectations, as 38% of traders ordered to buy and 62% ordered to sell the single currency.
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