Technical Analysis: Australian Dollar hovers around the psychological level of 0.6500
The Australian Dollar hovers around the psychological level of 0.6500 on Friday. A breach below this level could potentially trigger a downward move in the AUD/USD pair, targeting the area around the major support level of 0.6450 and February’s low at 0.6442. Conversely, on the upside, immediate resistance is observed around the 14-day Exponential Moving Average (EMA) at 0.6526, followed by the 23.6% Fibonacci retracement level at 0.6543 and the major level of 0.6550. If the pair breaks above this resistance zone, it may approach the psychological level of 0.6600.
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