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- The AUD/USD fell sharply
The AUD/USD fell sharply
Yesterday, the AUD/USD traded in different directions in the range of 0.6495-0.6530 and closed the day without significant changes. Today it fell, dropping to 0.6490. On the hourly chart, AUD/USD is trading below the moving average line MA (200) H1 (0.6505). 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: 0.6530, 0.6545, 0.6555
- 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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