© Dukascopy Bank SA
Yesterday's bullish correction successfully manage to continue, as today the EUR/AUD currency couple experienced another consequent movement upwards, and at the particular moment the price is gradually approaching the 200-day SMA at 1.2373, which is very likely to stop the uptrend, however, if it fails to slow down the bullish tendency, then the currency pair is very likely to face the 55-day SMA at 1.2444, which in turn might bring some bearish momentum. Moreover, the overall indicator outlook is neutral, therefore no significant trend reversals are expected in the nearest future.
Traders' sentiment
Traders at SWFX market expect the uptrend to continue, as 64% of traders hold bullish positions and only 36% of traders hold bearish positions. The situation with orders, however, spots strong downtrend expectations, since only 17% of traders ordered to buy and 83% ordered to sell the single currency.
© Dukascopy Bank SA