Yesterday the AUD/USD traded higher and closed the day in positive territory around 0.6480. Today, the pair, on the contrary, fell a little, dropping to the level of 0.6450. On the hourly chart, AUD/USD is testing resistance - the moving average line MA (200) H1 (0.6430). On the four-hour chart, the pair is still below the MA 200 H4 line. Based on the above, it is probably worth sticking to the south direction in trading, and while the pair remains below MA 200 H4, it may be necessary to look for entry points to sell at the end of the correction.
Probably, the main scenario is the resumption of the downward movement to 0.6440 (the low of the American session on Aug 29).
The alternative scenario is consolidation above MA 200 H1 followed by rise to 0.6485 (Aug 24 high).
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