Westpac recommended entering a long EUR/AUD...>

FOREX: Westpac recommended entering a long EUR/AUD position on Tuesday. They

look to enter at A$1.6125 with a target of A$1.6350 and a stop at A$1.6045.

- Westpac write "EU data has stabilised and ECB members firmly stand by the

Bank's forecasts, reducing risk of further policy easing. Despite the recent

rise in trade tensions (within survey period), ZEW expectations showed only a

minor dip. National data suggest this week's EZ Q1 employment and GDP, trade

data and final CPI should also be solid. Potential for pre-EU Parliamentary

election repositioning rally. The NAB business survey signalled a slip in

Australian employment within general weakening of the economy, Westpac forecast

unemployment edging higher to 5.1% which could trigger increased pricing of RBA

cut."