On Friday, the AUD/USD traded in different directions in the range of 0.6365-0.6415 and closed the day without significant changes. Today the pair rose sharply, rising to 0.6420. On the hourly chart, AUD/USD is still trading below the moving average line MA (200) H1 (0.6430). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, 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 0.6360 (Sep 7 low).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6520 (Sep 1 high).
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