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- AUD/USD continues to test MA 200 H1
AUD/USD continues to test MA 200 H1
Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7695. Today it was trading in a narrow range of $0.7690-10, staying close to yesterday's closing price. On the hourly chart, AUD/USD is testing the strength of the support - the moving average MA (200) H1 ($0.7720). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the north direction in trading and while the AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.
Resistances levels are at: $0.7760, $0.7795, $0.7820
Support levels are at: $0.7645, $0.7595, $0.7555
Probably, the main scenario - is the continuation of the upward movement to $0.7760 (Jan 11 high). An alternative scenario - may be consolidation below MA 200 H1 with a subsequent decline to $0.7595 (Dec 30 low).
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