Sell on a level breakthrough of 0.6245 with 0.6175 target. Stop loss = 0.6300.
Reason for the trading strategy
The Reserve Bank of Australia has cut the interest rate by 25 bps to 2.75%. The head of the RBNZ Wheeler believes that a further easing of monetary policy is possible at some stage in future. According to regulator's forecasts, inflation is likely to return to the range of 1%-3% by the beginning of 2016.