AUD/USD may reverse from channel resistance.Australian Dollar / U.S. DollarFOREXCOM:AUDUSDrishililawat5The Australian dollar rose slightly near 0.6500 on Tuesday after hitting a near two-week low earlier in the session, as the Reserve Bank of Australia signaled caution and emphasized a data-dependent approach to future monetary policy in its latest minutes. Additionally, the RBA recently kept the cash rate at 3.60%, highlighting its reluctance to ease policy further amid persistently high inflation and exaggerated concerns about a weakening labor market. Technically, AUD/USD is trading within a downward support and resistance channel, forming a lower low and lower high pattern. It is currently near the channel resistance level and is expected to reverse from this level to continue trading downward. AUD/USD is trading below its 100-day Exponential Moving Average (EMA) and is currently near the 50-day EMA. If the pair continues to trade below the 100-day EMA, it is very likely to maintain the lower low lower high pattern within the support and resistance channels and is expected to reach the support zone near the 0.6470 level.