On the long term (lower chart): the EUR and AUD are over extended in opposite directions. The EUR is definitely over-sold. The Bears are no doubt pilling on right now, but I've seen this before too. Later today, when the Bear rally reverses, everyone will scratch their heads and wonder why. We'll see if I'm right :D
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.