Buy on a level breakthrough of 0.7095 with 0.7151 target. Stop loss = 0.7045.
Reason for the trading strategy
In February, the Westpac consumer confidence index in Australia rose by 4.2% (m/m), after a 3.5% (m/m) decline in January. In December, new homes sales in Australia rose by 6% (m/m), after a 2.7% (m/m) decline in November. The data are positive for the Aussie. In the short term, the Aussie may test the level of $0.7151.