© Dukascopy Bank SA
Today the EUR/AUD currency couple experienced another consequent movement downwards, which has already managed to breach the 200-day SMA at 1.2377, and now the price is gradually heading towards the lower Bollinger band at 1.2270, which is expected to reverse the prevailing tendency. In case it is broken, then the currency pair is likely to reach the weekly S3 at 1.2211, which in turn will probably bring some bullish impulse. Moreover, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market expect the EUR/AUD currency pair to change the direction of its current movement, as 63% of traders hold bullish positions and only 37% of traders hold bearish positions. The situation with orders, however, shows very strong bearish trend expectations, since only 12% of traders ordered to buy and 88% ordered to sell the Euro.
© Dukascopy Bank SA