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The bullish tendency, which started a couple of days ago, has successfully managed to continue, as today the EUR/AUD currency couple experienced another consequent movement upwards, and at the particular moment the price confronts the 200-day SMA at 1.2370, which is expected to reverse the prevailing bullish trend, however, if it is breached, then the currency pair might reach the 55-day SMA at 1.2433, which in turn is very likely to bring some bearish impetus. Moreover, the overall indicator outlook is neutral, therefore no significant tendency changes are expected in the upcoming days.
Traders' sentiment
SWFX market participants are optimistic about the EUR/AUD currency couple, as 65% of traders hold bullish positions and 35% of traders hold bearish positions. As for the orders, the majority of traders expect that the Euro will depreciate against the aussie, since 74% of then ordered to sell and only 26% ordered to buy the single currency.
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