EUR/AUD: Stalls again at 1.3600; contrarians take note!

The market showed just how bearish it is on the AUD, giving back all of its gains quite quickly during Asia and London trade.

However; EUR/AUD stalled again just ahead of 1.3600, AUD/JPY is nearing its 38.2% retracement level at 95.50 (chart in members), and the AUD/USD downtrend has started to flatten out.

Contrarian traders (that’s me!) should keep a sharp eye on the AUD for some good risk-reward entry levels.