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- AUD/USD is trading near 4-week high
AUD/USD is trading near 4-week high
Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7755. Today it was trading in a narrow range of $0.7735-60, staying close to a 4-week high. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7670). The situation is similar on the four-hour chart. Based on the above, 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: $0.7770-80, $0.7805, $0.7820
Support levels are at: $0.7715, $0.7650, $0.7585
Probably, the main scenario - is the continuation of the upward movement to $0.7770 (Feb 11 high). Alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $0.7565 (Feb 2 low).
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