The Australian dollar falls as risk appetite remains subdued across assets. The pair went into a free fall after it broke last summer’s lows near 0.6700. The bearish mood still prevails and may continue to attract trend followers to depress the price action. 0.6300 is the next level to see whether the buy side could make its way back. The RSI’s oversold condition might cause a bounce and 0.6500 would be the first obstacle. The support-turned-resistance 0.6700 on the 20-day moving average could offer strong downward pressure.
