The AUD/USD pair struggled to maintain its recent winning streak in Tuesday’s Asian session, with a small bearish bias around the 0.6430 level.

The 1.5% decline in Australia’s Westpac Consumer Confidence is exerting downward pressure on the AUD/USD pair, while the US Dollar’s decline is supporting it.

The psychological level of 0.6400 may provide initial support for the AUD/USD pair, and a breach below it could take the price as low as 0.6350. Resistance is found at the 21-day EMA and the 23.6% Fibonacci retracement on the upswing.

The MACD line indicates a potential market shift, suggesting a potential asset price reversal. However, the 14-day RSI suggests a short-term bearish trend, likely affecting AUD/USD traders. The current downturn may be waning.

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