The Australian Dollar trades around 0.6570 on Wednesday. The pair consolidates within a symmetrical triangle pattern, with the 14-day Relative Strength Index (RSI) above the 50-level, suggesting a bullish bias.
The AUD/USD pair could potentially find the barrier at the psychological level of 0.6600, followed by the upper boundary near the major support level of 0.6650. A breakthrough above this level might prompt the pair to revisit March’s high of 0.6667, followed by the psychological level of 0.6700.
On the downside, the AUD/USD pair may encounter immediate support at the nine-day Exponential Moving Average (EMA) at 0.6564. If the pair breaks below the EMA, it could face further pressure to navigate the region around the lower boundary of the symmetrical triangle around the level of 0.6465
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