The Australian Dollar (AUD) extends its gains on the second successive day, remaining firmer against the US Dollar on Tuesday. The pair receives upwar
Australian Dollar continues to gain post-release of the RBA Meeting Minutes. RBA board members favored to maintain the current interest rates. US Dollar faces challenges due to the dovish comments made by multiple Fed members. d support after the hawkish Reserve Bank of Australia minutes for the October 2023 meeting were released on Tuesday. Australia’s central bank boardwas involved in the consideration of whether to raise interest rates by 25 basis points or to maintain the current rate.
6350 level The Australian Dollar trades higher around the major level of 0.6350 during the Asian session on Tuesday. The 0.6300 emerges as the significant support level, which aligns with the monthly low at 0.6285. On the upside, a crucial resistance is observed at the major level of 0.6400. This level coincides with the 23.6% Fibonacci retracement level at 0.6429 and is lined up with the 50-day Exponential Moving Average around the 0.6436 level.
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