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- The AUD/USD is testing resistance MA 200 H1
The AUD/USD is testing resistance MA 200 H1
Yesterday, the AUD/USD traded lower and closed the day in the red zone near the price of 0.6505. Today, on the contrary, it has grown slightly, rising to the mark of 0.6520. On the hourly chart, AUD/USD is testing resistance for strength - the moving average line MA (200) H1 (0.6510). On the four-hour chart, the pair is still below the MA 200 H4 line. 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: 0.6480-85, 0.6440-45, 0.6400
Probably, the main scenario is a continuation of the downward movement to 0.6485 (Nov 20 low).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6685 (Nov 7 high).
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