AUDUSD overview 29.06.2021

AUDUSD drops on dollar gains.

AUDUSD under the bearish pressure today on widespread dollar gains on safe-haven inflows as coronavirus outbreaks threatens to damage global economic recovery across the world. Concerns over the spread of the highly infectious Delta variant are damaging risk sentiment after the Fed shocked traders with a hawkish tilt earlier this month. Indonesia is coping with record-high cases, while Malaysia is set to extend a lockdown and Thailand has announced new restrictions. Spain and Portugal are imposing travel restrictions on unvaccinated UK travellers. The Australian dollar is being sold heavily due to the same risk-averse behaviour right now.

Expect seller on upward corrections.

Next support to watch – 0.7490