I even see Austria like they can reach at least the semi finals. Just look at this side of this round:
It is way better than the part with teams like Germany, France and many more. If they beat us I don't see any reason not to beat Netherlands once again or do it against Romania either.
I also think this side is easier, England and Italy have escaped from the other side. But I have to say that they are very out of form in the tournament, they might not even make it to the quarter finals. So I don't think it would be a surprise for anyone if Switzerland eliminates Italy. England are struggling for goals, Slovakia could surprise here. I don't think Romania should be underestimated either, you can't just say that the Netherlands are the favorites. Austria is one of the teams playing the best football in the tournament. In terms of names, there is no favorite country in this side, but in terms of games, there are teams that will do well in the final. This side will be really exciting and competitive.