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- The AUD/USD continued Monday's growth
The AUD/USD continued Monday's growth
Yesterday, the AUD/USD traded higher and closed the day in the positive territory near the price of 0.6505. Today it also rose slightly, rising to the mark of 0.6525. On the hourly chart, AUD/USD is still trading below the moving average line MA (200) H1 (0.6540). 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: 0.6545-55, 0.6580, 0.6600
- Support levels are at: 0.6495, 0.6440-45, 0.6400
Probably, the main scenario is a continuation of the downward movement to 0.6495 (session low).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6685 (Nov 7 high).
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