This is the Forex quote for the Euro versus the Australian Dollar. In this quote, the value of one Euro ('base currency') is quoted in terms of the Australian Dollar ('counter currency'). EUR/AUD reached its lows in the midst of the European sovereign debt crisis in 2012, when it hit A$1.1619. Since mid-July 2012, the pair has recovered mainly due to the European Central Bank's policy of Outright Monetary Transactions (OMT), the 'whatever it takes' measure that ECB President Draghi threatened in August 2012.
Rates markets are starting to shift in favor of another ECB rate cut by the end of the year, while pricing for a Fed rate hike has jumped forward more than six months over the past two weeks. This all adds up to an environment tilting more bearish for EUR/USD in the short-term.