Sell on a rebound from the level of 0.7413 with 0.7298 target. Stop loss = 0.7463.
Reason for the trading strategy
In May, the Westpac consumer confidence index in Australia rose from -4 p. to 8.5 p., signaling a likely increase in the future consumer spending in the country. The current growth in the Aussie can be seen as an adjustment within the downtrend and can be used to open short positions on it.