Technical Analysis: Australian Dollar declines to 0.6520 before the psychological support

The Australian Dollar hovers around 0.6520 on Monday. The immediate resistance is observed around the 21-day Exponential Moving Average (EMA) at 0.6537, 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. On the downside, the psychological level of 0.6500 appears as the key support followed by the previous week’s low at 0.6486. 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