The AUDNZD pair set a new 4-year maximum after the meeting of the Reserve Bank of Australia on June 7, at which the key rate was raised by 0.5% to 0.85%.
The previous annual maximum was also the result of the Australian regulator rate hike on May 3. And then, after updating the high, the AUDNZD pair adjusted down to the uptrend line.
This time the correction after the renewal of high is also very likely to begin. If the "bearish engulfing" is confirmed on the chart by the end of the day, the first goal of the decline will be the level of the previous maximum - 1.111. After that the movement to the trend line near the level of 1.103 is possible.
This content is for informational purposes only and is not intended to be investing advice.
