Technical Analysis: Australian Dollar holds ground above the psychological level of 0.6600
The Australian Dollar trades around 0.6620 on Monday. The pair remains positioned in a symmetrical triangle pattern, with the 14-day Relative Strength Index (RSI) above the 50-level, indicating a bullish bias.
The AUD/USD pair might retest the upper boundary around the level of 0.6649. A breakthrough above this level could lead the pair to explore the region around March’s high of 0.6667.
On the downside, the AUD/USD pair could find immediate support at the psychological level of 0.6600, followed by the nine-day Exponential Moving Average (EMA) at 0.6552. A break below the latter could exert pressure on the pair to test the throwback support at the 0.6480 level, followed by the lower boundary of the symmetrical triangle around the level of 0.6465
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