Gabon international Cousin received a broken jaw in the Ibrox side's Uefa Cup match against Werder Bremen.
However, after surgery and an intensive training programme at Murray Park the 31-year-old is now in line to make his return in the second leg in Lisbon.
"Obviously, with taking a knock like he did, it is a case of building up his confidence again more than anything," said Smith.
"But now he is happy and is able to take part in training games, something he has not done so far."
Rangers struggled to make in-roads towards goal in the 0-0 draw with Sporting at Ibrox, meaning they have to score in Portugal in order to progress to their first European semi-final for 36 years.
However, Smith was pleased with the showing of his other forwards in the 3-3 draw with Dundee United at Tannadice on Sunday.
"With Kris Boyd and Nacho Novo scoring at the weekend and Jean-Claude Darcheville playing well, we have a good mix," the Rangers boss added.
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