Buy on rebound from 0.7045 level with 0.7140 target. Stop loss = 0.6995.
Reason for the trading strategy
Today, the Reserve Bank of Australia kept its key interest rate unchanged at 2%, as expected. The January data on Australia's labor market and inflation for Q4 2015 did not propose the monetary policy easing at today's meeting. Meanwhile, the risks of the inflation decrease in Q1 2016 remain high due to the fall in energy prices. A decline in the key interest rate in Australia in the current year should not be eliminated.