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- The AUD/USD remains below MA 200 H1
The AUD/USD remains below MA 200 H1
On Friday, the AUD/USD traded higher and closed the day in the positive territory near the price of 0.6260. Today it fell slightly, dropping to the mark of 0.6245. On the hourly chart, AUD/USD is still trading below the moving average line MA (200) H1 (0.6325). 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 selling to form a correction.
- Resistance levels are at: 0.6275, 0.6300, 0.6325
- Support levels are at: 0.6225, 0.6200, 0.6100
Probably, the main scenario is a continuation of the downward movement to 0.6225 (low of the American session on Dec 20).
The alternative scenario is consolidation above MA 200 H1 with subsequent growth to 0.6440 (Dec 10 high).
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