05:06
The pair continues growing along a narrow ascending channel amid strengthening in the Australian dollar, which is supported by expectations of the RBA commentaries regarding its monetary policy.
In the short-term, the price is expected to continue growing towards the level of 0.7650 from where most likely it will reverse downward. However, there is a chance of its breakout amid the RBA decision on interest rates.
On the 4-hour chart, the pair is heading towards the upper MA of Bollinger Bands at the level of 0.7640 while bands are turning up.
Support levels: 0.7585, 0.7530, 0.7490.
Resistance levels: 0.7620, 0.7640, 0.7650.
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