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Supports: 1.1944; 1.1902; 1.1764
Outlook
The bullish trend, which started on August 20th, managed to advance even further, and today the EUR/AUD currency couple has already crossed the 55-day SMA at 1.1944 and the weekly R2 at 1.1987, and now the price confronts the upper Bollinger band at 1.2011, which is expected to bring some bearish momentum, however, if it is breached, then next resistance at 1.2125 (weekly R3) is very likely to change the direction of the current movement. Nevertheless, RSI indicator remains neutral, although it moved very close to the over-bought area.
Traders' sentiment
SWFX market participants retain mixed feelings about the EUR/AUD currency pair, as 49% of traders hold bullish positions and 51% of traders hold bearish positions. The distribution of orders, however, spots some bearish trend expectations, as 62% of traders ordered to sell and only 38% ordered to buy the Euro.