This currency pair has rallied quite a bit, especially if you view it a few months back where the rally has spread far over 2,000 pips. While this currency pair may tag on another 2,000 pips, I think we should see a reversal as overall strong global economic growth should benefit the Australian Dollar more than it may benefit the Euro as Australia is a commodity currency and higher demand for commodities may push the extremely oversold Australian currency higher. Take a look at the EURAUD chart and form your own opinion on it.