Technical Analysis: Australian Dollar moves above the major level of 0.6450
The Australian Dollar trades around 0.6460 on Tuesday. The pair tests the pullback resistance near 0.6456. A breakthrough above this level could potentially enhance the sentiment for the pair. However, the 14-day Relative Strength Index (RSI) remains below the 50-level, indicating a bearish sentiment. Immediate support could be found at the major level of 0.6450, followed by the psychological level of 0.6400. If the latter is breached, it might exert pressure on the AUD/USD pair to revisit April’s low of 0.6362, followed by the major level of 0.6350
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