(MENAFN- Daily Forex) The Aussie dollar initially rallied during the early hours here on Tuesday. But as you can see, the 200 day EMA is an area where we continue to see a lot of problems 200 day EMA sits just above the 0.64 level, which of course in and of itself was a major resistance barrier previously, all things being equal, this is a market that is trying to determine whether or not it can truly break out to the upside. If it can, and that would be basically the 0.65 level, then the Australian dollar probably climbs quite a bit. However, it is overdone. So at the very least, it makes a certain amount of sense that you would see the area in this general vicinity be more along the lines of consolidation after that big run higher a Pullback Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: SidebarBrokerListAmount, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });A pullback to the 50 day EMA would not surprise me at all. And that could send the Aussie down to the 0.63 level, which is basically the same level. Anything below there then opens up the 0.62 level. But I don\u0026#39;t necessarily think we have a situation where that\u0026#39;s going to be easy. This is a market that will put you to sleep and has been like that for some time therefore, I just don\u0026#39;t like putting a lot of money into it. That being said though, if you are a short-term trader, this might be a scalper\u0026#39;s dream if you\u0026#39;re willing to sit at your chair all day long and just trade back and forth. EURUSD Chart by TradingView In general, keep in mind that the Australian dollar is highly sensitive to China and the trade situation between the United States and China. So that\u0026#39;s interesting because we have reports of workers being laid off of factories in China which could lead to some serious problems in that country. And of course, how people perceive the Chinese economy ports in America supposedly are slowing down as well. So that just shows you on both sides of the Pacific, how things might be going.

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