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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 higher and closed the day in the positive territory near the price of 0.6815. Today it traded in a narrow range of 0.6800-25, remaining near yesterday's closing price. On the hourly chart, AUD/USD is still trading above the moving average line MA (200) H1 (0.6725). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 0.6835-45, 0.6865-70, 0.6895
- Support levels are at: 0.6785, 0.6720-35, 0.6695-00
Probably, the main scenario is a continuation of the upward movement to 0.6835 (Sep 19 high).
The alternative scenario is consolidation below MA 200 H1 with a subsequent fall to 0.6625 (Sep 11 low).
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