© Dukascopy Bank SA
The bearish tendency, which started two days ago, successfully managed to decline even further, and now the EUR/AUD currency pair is heading towards the 200-day SMA at 1.2421, which is expected to reverse the prevailing bearish trend. In case it is broken, then the price might reach the 20-day SMA at 1.2337, which might 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 have mixed feelings about the EUR/AUD currency couple, as 46% of traders hold bullish positions and 54% of traders hold bearish positions. However, the situation with orders spots some downtrend expectations, since only 36% of traders ordered to buy and almost 64% ordered to sell the single European currency.
© Dukascopy Bank SA