Yesterday the AUD/USD traded higher and closed the day in positive territory around 0.6460. Today, the pair, on the contrary, fell, dropping to the level of 0.6415. On the hourly chart, AUD/USD is again trading below the MA (200) H1 moving average (0.6550). The situation is similar on the four-hour chart. 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 to sell for the formation of a correction.
Probably, the main scenario is continuation of the downward movement towards 0.6400 (Aug 29 low).
The alternative scenario is consolidation above MA 200 H1 followed by rise to 0.6520 (Sep 1 high).
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