As traders continue to take advantage of the extra time off for the holidays, the Australian dollar is trading in a range early on Tuesday. Omicron coronavirus variant incidences in Australia are rising despite increased demand for riskier assets and safe haven selling of the US Dollar. The Australian dollar is faltering as a result. As a result of this, there are worries about the virus’ capacity to be contained as the economy grows.
The price line has a pivot point below it at 0.72270, with support at 0.72200 and resistance at 0.72370. Overhead of the EMAs of 200 and 100, the EMA of 10 is advancing horizontally. It seems that both the RSI and MACD are in negative zone, with the signs indicating a downward trend. Both the Stochastic and ADX indicators are indicating a downward trend.
The price is nearly above the Ichimoku Cloud and the Chinkou Span is near the market price. The Tenkan-sen and the Kijun-sen are both showing an upward trend.

• There is resistance at 0.72370, followed by resistance at 0.72440 and 0.72540.
• There is support at 0.72200 Below, there is 0.72100 and 0.72030.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.