Today, we will take a look at the EUR/AUD pair, which has been bearish in 2014. It has however been shifting away from the bearish mode since September. Let’s take a look at the charts to see where this pair is from a technical perspective.
EUR/AUD fell from the 1.5831 high on the year in January to 1.3788 low on the year in September. After that price has started to shift away from the the bearish mode, breaking above some key factors and levels, while the daily RSI showed us loss of bearish momentum. It is now back at the crossroad after retreating from 1.47, but it is again at the cusp of introducing further bullish correction, if it is able to return above 1.4550.