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- The AUD/USD remains above MA 200 H1
The AUD/USD remains above MA 200 H1
Yesterday, the AUD/USD traded lower and closed the day in the red zone around the price of 0.6830. Today, on the contrary, the pair has grown slightly, rising to the level of 0.6845. On the hourly chart, AUD/USD is still trading above the moving average line MA (200) H1 (0.6785). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading and while the pair remains above MA 200 H1, may be you need to look for entry points to buy at the end of the correction.
- Resistances levels are at: 0.6865-70, 0.6895, 0.6920
- Support levels are at: 0.6820, 0.6795, 0.6770
Probably, the main scenario is the resumption of the upward movement to 0.6865 (the high of the American session on Dec 28).
The alternative scenario is consolidation below MA 200 H1 with a subsequent decline to 0.6690 (Dec 18 low).
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