Macro FX ideas update - Westpac

Analysts at Westpac explained that the ongoing outperformance in EUR has seen EUR/AUD trade up through our entry level for this week's Macro FX Ideas . 

Key Quotes:

"We are now short at 1.5000, targeting 1.4730 with a stop at 1.5120.

Key near term event risk for EUR/AUD includes Australian Q1 CAPEX data, a key driver of the Australian growth narrative, as well as headlines around the prospects for the ECB Governing Council to pivot in a less accommodative direction when they meet 8 June next week.  

Entry: Short 100% at 1.5000, Stop 1.5120, Take profit 1.4730."