Technical Analysis
14.01.2021, 06:59

AUD/USD remains above MA 200 H1

Yesterday the AUD/USD was trading lower and closed the day in the red around the $0.7735. Today it was trading in a narrow range of $0.7730-55, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7740). 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 northern direction in trading, and while the AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

  • Resistances levels are at: $0.7795, $0.7820, $0.7900

  • Support levels are at: $0.7700, $0.7665, $0.7640

Probably, the main scenario - is the continuation of the upward movement to $0.7795 (Jan 8 high). Alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $0.7640 (Jan 4 low).

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