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AUD/USD tests support for MA 200 H1
Yesterday, the AUD/USD traded lower and closed the day in the red zone around the price of 0.6405. Today, on the contrary, the pair has grown slightly, rising to the level of 0.6415. On the hourly chart, AUD/USD is testing the strength of support - the moving average line MA (200) H1 (0.6415). On the four-hour chart, the pair still remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above the MA 200 H1, may be you need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 0.6450, 0.6500, 0.6520
- Support levels are at: 0.6395, 0.6355, 0.6315-20
Probably, the main scenario is the resumption of the upward movement to 0.6450 (Nov 8 high).
The alternative scenario is consolidation below MA 200 H1 followed by a fall to 0.6320 (Nov 1 low).
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