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- The AUD/USD is still testing the resistance of the 200 H1 MA
The AUD/USD is still testing the resistance of the 200 H1 MA
On Friday, the AUD/USD traded in different directions in the range of 0.6425-0.6475 and closed the day without significant changes. Today the pair grew slightly, rising to 0.6445. On the hourly chart, AUD/USD is still testing the strength of resistance - the moving average line MA (200) H1 (0.6415). On the four-hour chart, the pair still remains below the MA 200 H4 line. 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.
- Resistances levels are at: 0.6470-80, 0.6520-30, 0.6560
- Support levels are at: 0.6420, 0.6405, 0.6380
Probably, the main scenario is the resumption of the downward movement to 0.6415 (Sep 14 low).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6480 (Sep 4 high).
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