On Friday, the AUD/USD pair traded lower and closed the day in the red around 0.6450. Today, the pair, on the contrary, rose slightly, rising to the level of 0.6475. On the hourly chart, AUD/USD is testing resistance - the moving average line MA (200) H1 (0.6450). On the four-hour chart, the pair is still below the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the pair remains below MA 200 H1, it may be necessary to look for entry points for selling at the end of the correction.
Probably, the main scenario is the resumption of the downward movement towards 0.6440 (Sep 1 low).
The alternative scenario is consolidation above MA 200 H1 followed by rise to 0.6520 (Aug 30 high).
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