© Dukascopy Bank SA
The bullish trend, which started a couple of days ago, successfully managed to continue, and today the EUR/AUD currency couple experienced another bullish advance. As for now, the price is slowly approaching the resistance line of the prevailing bullish channel at 1.272, however if it is breached, then next resistance at 1.2740 (monthly R2) will probably bring some bearish impetus. Additionally, RSI indicator shows a neutral signal, as well as the overall indicator outlook now is neutral.
Traders' sentiment
Traders at SWFX market are neutral about the EUR/AUD currency pair, since 53% of traders hold long positions and 47% of traders hold short positions. The distribution of orders, however, spots some downtrend expectations, as only 39% of traders ordered to buy and 61% ordered to sell the single European currency.
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