EUR/AUD Shifting from its 2014 Bearish Mode

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EUR/AUD Shifting from its 2014 Bearish Mode

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.

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Fan Yang has been a professional forex trader and analyst since 2007. He specializes in technical analysis and has a Chartered Market Technician designation since 2011. He was the chief technical strategist at CMSFX He was also the founder and chief currency strategist at FXTimes Over the years, Fan has not only been a trader and analyst but also an educator. As a proponent of both technical and fundamental analysis in trading, Fan advocates simplicity and discipline as key factors in making trading decisions when faced with so many "clues" and "signals". Currently Fan Yang is the chief currency analyst and webinar instructor at forexminute.com.