UBS suggests selling the pair
UBS is increasingly optimistic about the Australian dollar and notes that the short position is crowded but that quite a bit of dovishness is already priced in. Today's RBA Minutes will be an interesting barometer because they will feature some negative commentary. If that softness doesn't spill over to the Aussie, then it could be a positive sign ahead.
As for EUR/AUD, they don't highlight any levels but target near-term selling in the euro ahead of the ECB:
The yield stabilization in Australia, technicals, momentum in the commodity complex, a broad sentiment reversal and valuation/misalignment all suggest AUD to have upward pressure over the next 3 weeks. While AU data this week doesn't provide the best trigger, a lot of the negative news is likely in the price. We sell EUR (instead of USD), expecting pre-hedging for the ECB to be a theme ahead of July 25th.
Here's the daily chart, which is looking very much like a head-and-shoulders top:
