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- The AUD/USD sharply rose
The AUD/USD sharply rose
On Friday, the AUD/USD traded lower and closed the day in the red zone near the price of 0.6495. Today it sharply rose, rising to the mark of 0.6550. On the hourly chart, AUD/USD is still testing the resistance - the moving average line MA (200) H1 (0.6495). 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 H4, it may be necessary to look for entry points for sale at the end of the correction.
- Resistance levels are at: 0.6550-55, 0.6580, 0.6595
- Support levels are at: 0.6470-80, 0.6440-45, 0.6400
Probably, the main scenario is a continuation of the downward movement to 0.6480 (low of the American session on Nov 22).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6685 (Nov 7 high).
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