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- The AUD/USD is testing the MA 200 H1 resistance
The AUD/USD is testing the MA 200 H1 resistance
On Friday, the AUD/USD traded higher and closed the day in positive territory around $0.6840. Today it fell a little, dropping to $0.6825. On the hourly chart, AUD/USD is testing resistance - the moving average line MA (200) H1 ($0.6795). On the four-hour chart, the AUD/USD is still below the MA 200 H4 line. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the AUD/USD remains below MA 200 H1, it may be necessary to look for entry points for selling at the end of the correction.
Resistances levels are at: $0.6875, $0.6905, $0.6955
Support levels are at: $0.6785, $0.6700-15, $0.6680
Probably, the main scenario is the continuation of the downward movement to $0.6785 (the low of the European session on Sep 9).
Alternative scenario is consolidation above MA 200 H1 followed by growth to $0.7005 (Aug 26 high).
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