Westpac - EUR/AUD risks remain to the upside multi-week, targeting 1.30

Westpac - "EUR/AUD risks remain to the upside multi-week, targeting 1.30. A bailout / backstop for Spain and approval of Greece’s quarterly loan tranche seem likely in Nov, supporting EUR sentiment. AUD in contrast should struggle as the RBA cuts the cash rate again and stands ready to ease further, while it seems too early to call a bottom in the Chinese growth cycle."

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Tags: EUR/AUD, EURAUD, Westpac

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