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The EUR/AUD currency pair maintains its bearish tendency, and today the price has already managed to breach the monthly R1 at 1.2404, and at the particular moment the currency couple is about to test the 20-day SMA at 1.2383, which will probably slow down the downtrend. In case it fails to stop the movement downwards, then next support at 1.2336 will probably bring some bullish impulse. Moreover, RSI indicator still shows a neutral signal, but the overall indicator outlook is bullish.
Traders' sentiment
SWFX market participants are neutral about the potential strength of the Euro, as 49% of traders hold bullish positions and 51% of traders hold bearish positions. The orders are distributed in a rather similar manner, since 42% of traders ordered to buy and 58% ordered to sell the single European currency.
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