If you are looking to change AUD to EUR or you prefer a lower EUR against Australia, today is a better day to do it.
My friend's client was looking to do this exchange. At this moment the exchange rate of EURAUD is at 1.5731. This means you only need 1.5731AUD to exchange for 1 EUR rather than 1.6376AUD to exchange for 1 AUD.
It is a saving of 3.93%. This may not look like a lot to most of us. But a transaction of 1million AUD, the saving will be 39,386AUD and all you need to do is to wait, in this case, 53days. You don't even need to perform any hedging.