Buy on a level breakthrough of 0.7380 with 0.7480 target. Stop loss = 0.7330.
Reason for the trading strategy
According to the RBA, the slowdown in Australia's GDP growth in Q2 seem not to last long. The regulator believes that the rate cuts implemented earlier continue to support the aggregate demand. We believe the stabilization of commodity prices and the reduced volatility in the financial markets will support the Aussie in the nearest future.