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- The AUD/USD remains below MA 200 H1
The AUD/USD remains below MA 200 H1
On Friday, the AUD/USD traded higher and closed the day in the positive territory around 0.6510. Today it fell slightly, dropping to 0.6485. On the hourly chart, AUD/USD is still trading below the MA (200) H1 moving average line (0.6545). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points for sale at the end of the correction.
- Resistance levels are at: 0.6545, 0.6560-65, 0.6580
- Support levels are at: 0.6480-85, 0.6465, 0.6440
Probably, the main scenario is a continuation of the downward movement to 0.6485 (session low).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6580 (Jul 25 high).
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