Chart of the day - AUDUSD (06.07.2021)

8:31 AM 6 July 2021

Australian dollar is booking strong gains today amid improved sentiment towards the Antipodean currencies. AUDUSD is trading almost 1% higher on the day. The Reserve Bank of Australia left interest rates unchanged today but has also decelerated the pace of bond purchases. Taking a look at AUDUSD from a technical point of view on daily interval, we can see that the pair has reached a key horizontal resistance zone at 0.7600. In case bulls maintain momentum and push the pair above it, the next resistance zone to watch can be found at the upper limit of the downward channel

Source: xStation5

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