The AUD/USD pair remained offered above the round-level resistance of 0.6400 in the early New York session. The Aussie asset struggles to extend recov
AUD/USD faces selling pressure above 0.6400 as IMF warned decline in global output due to Middle East tensions. The USD Index drifted lower swiftly to near 106.00 as Fed policymakers supported keeping interest rates steady. AUD/USD trades in a Rising channel in which each pullback is considered as a buying opportunity. ery as the International Monetary Fund warned that rising oil prices due to deepening Middle East tensions could dampen global Gross Domestic Product and rebound inflation.
The 50-period Exponential Moving Average at 0.6388 is considered as a buying opportunity by the market participants. The Relative Strength Index skids into the 40.00-60.00 range, which indicates a consolidation ahead. A fresh downside would appear if the Aussie asset dropped below October 03 low around 0.6286. This would expose the asset to 21 October 2022 low at 0.6212, followed by 13 October 2022 low at 0.6170. In an alternate scenario, a decisive break above August 15 high around 0.
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