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Supports: 1.2177; 1.2135; 1.1955
Outlook
The bullish trend, which started on August 13th, successfully managed to continue even further, and today the EUR/AUD currency couple has made another significant move upwards. As for now, the price is about to test the weekly R2 at 1.2250, which might bring some bearish impetus, however if it fails to stop the rally, then next resistance at 1.2341 (upper Bollinger band) is expected to reverse the prevailing tendency. Moreover, RSI indicator show sell signal, since the indicator has moved deeper into the over-bought area.
Traders' sentiment
SWFX market participants remain neutral regarding the EUR/AUD currency pair, as exactly 50% of traders hold long positions and 50% of traders hold short positions. The orders are distributed in a similar manner, since 45% of traders ordered to buy and 55% ordered to sell the Euro.