Sell on a level breakthrough of 0.7491 with 0.7440 target. Stop loss = 0.7541.
Reason for the trading strategy
Today's decision of the Reserve Bank of Australia to keep its benchmark interest rate unchanged at 1.75% had no significant support for the Aussie because of the deteriorating internal macroeconomic statistics. In May, the Australian retail sales increased by 0.2% (m/m), with the forecast of 0.3% (m/m); the value of the index for April was revised from 0.2% (m/m) to 0.1% (m/m). Australia's trade deficit increased from 1.79 billion to 2.22 billion AUD in May.