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- The AUD/USD continued its decline on Friday
The AUD/USD continued its decline on Friday
On Friday, the AUD/USD traded lower and closed the day in the red zone around the price of 0.6605. Today it also fell slightly, dropping to 0.6585. On the hourly chart, AUD/USD is still trading above the moving average line MA (200) H1 (0.6575). 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 pair remains above the MA 200 H1, may be need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 0.6620, 0.6640-45, 0.6665
- Support levels are at: 0.6560-65, 0.6515, 0.6485
Probably, the main scenario is a continuation of the upward movement to 0.6620 (May 10 high).
The alternative scenario is consolidation below MA 200 H1 with a subsequent decline to 0.6465 (May 1 low).
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