© Dukascopy Bank SA
The uptrend, which started a week ago, has failed to continue, as today the EUR/AUD currency couple experienced a slight bearish reaction, which has already managed to breach the monthly R2 at 1.2740, and, at the particular moment, the price is headed towards the weekly PP at 1.2661, which might slow down the prevailing decline. In case it is broken, then the price might reach the monthly R1 at 1.2555, which in turn is expected to change the direction of the current movement downwards. In addition, RSI indicator shows a neutral signal, as well as the overall indicator outlook remains neutral.
Traders' sentiment
Traders at SWFX market maintain mixed feelings regarding the EUR/AUD currency pair, since 52% of traders hold bullish positions and 48% of traders hold bearish positions. In contrast, the situation with orders shows strong downtrend expectations, as only 28% of traders ordered to buy and more than 72% ordered to sell the single European currency.
© Dukascopy Bank SA