Technical Analysis: Australian Dollar hovers above the psychological level of 0.6500

The Australian Dollar is trading around 0.6510 on Tuesday. Immediate resistance is noted near the 21-day Exponential Moving Average (EMA) at 0.6533, followed by the 23.6% Fibonacci retracement level at 0.6543 and the major level of 0.6550. A break above this resistance zone could lead the pair towards the psychological level of 0.6600. On the downside, key support is seen at the psychological level of 0.6500, followed by the previous week’s low at 0.6486. If breached, the pair may target the area around the major support level of 0.6450 and February’s low at 0.6442.