© Dukascopy Bank SA
The interim bullish movement successfully managed to prevail, as today the EUR/AUD currency couple advanced even higher, and at the particular moment the currency pair is facing the 55-day SMA at 1.2427, which is very likely to stop the current bullish trend, however, in case it is breached, then the price might reach the weekly R1 at 1.2475, which in turn will probably bring some bearish impetus. Moreover, the overall indicator outlook is neutral, and it is not expected to change in the nearest future.
Traders' sentiment
Traders at SWFX market are optimistic about the EUR/AUD currency couple, as 66% of traders hold bullish positions and only 34% of traders hold bearish positions. The situation with orders, however, spots some downtrend expectations, since majority of traders (64%) ordered to sell the single European currency.
© Dukascopy Bank SA