Buy on a level breakthrough of 0.7379 with 0.7484 target. Stop loss = 0.7329.
Reason for the trading strategy
The Reserve Bank of Australia has lowered its forecasts for unemployment and GDP. The unemployment rate will remain almost unchanged over the next 18 months, while the GDP is expected to grow by only 2.5%-3.5% rather than 2.75%-3.75% by the end of 2016. According to the regulator, the signs that the weakening Australian dollar is supporting the economy are growing.