$EURAUD - Greece still a problem. RBA needs to do more than talk

Short reasons :

EUR fundamentally weak due to QE.
Greece problems are not easy to solve and
will continue to weigh on EUR.

After Greece there is still Italy.
Eurozone far from problems being solved.

AUD rate cut has occurred. Current sentiment is, it will be hard for AUD to
continue cutting rates with the housing bubble in Australia

This makes AUD (neutral currency) vs EUR (dovish)

Used the short term rally on EUR to get short.