Technical Analysis: Australian Dollar advances to near 0.6620 followed by a major barrier

The Australian Dollar trades near 0.6620 on Thursday. Notably, a key resistance level stands at 0.6650, a significant marker for potential upward movement. A successful breakthrough above this level could provide momentum for the AUD/USD pair to revisit March's high, recorded at 0.6667 on March 8. On the downside, immediate support is observed at the 23.6% Fibonacci retracement level of 0.6614, followed by the psychological barrier of 0.6600. Should the pair breach below the latter, it may face further downward pressure, potentially navigating toward the region surrounding the 38.2% Fibonacci retracement at 0.6581 and the 14-day Exponential Moving Average (EMA) positioned at 0.6575