Technical Analysis: Australian Dollar moves above 0.6500
The Australian Dollar trades around 0.6520 on Tuesday. The daily chart analysis shows that the AUD/USD pair has breached above the descending channel, indicating a weakening of a bearish bias. The 14-day Relative Strength Index (RSI) is slightly up the oversold 30 level, which suggests a potential for more upward correction.
The AUD/USD pair could find immediate support around the throwback support of 0.6470 level, followed by the lower boundary of the descending channel around the level of 0.6450
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