Technical Analysis: Australian Dollar hovers around 0.6620 with a bullish sentiment
The Australian Dollar trades around 0.6620 on Wednesday. Technical analysis suggests a bullish sentiment for the AUD/USD pair. The pair could see more gains as the Moving Average Convergence Divergence (MACD) is positioned above the centerline and shows a divergence above the signal line. Key resistance is observed around the major level of 0.6650, followed by March’s high of 0.6667. On the downside, key support is identified around the 23.6% Fibonacci retracement level of 0.6605 and the psychological level of 0.6600. Further support lies at the nine-day Exponential Moving Average (EMA) of 0.6584 and the major support level of 0.6550
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