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- AUD/USD remains above MA (200) H1
AUD/USD remains above MA (200) H1
Yesterday, the AUD/USD pair grew for most of the trading from 0.6240 to 0.6295 and closed trading near the price of 0.6285. Today, the pair started trading with a decrease from 0.6290 to 0.6260. On the hourly chart, AUD/USD remains above the MA (200) H1 (0.6235) moving average line and slightly above MA (200) H4 (0.6230) on the four-hour chart. Based on the above, it is probably worth following the northern direction in trading and as long as the pair remains above MA (200) H1, you should look for entry points to buy.
Resistance levels are at: 0.6295, 0.6330, 0.6385
Support levels are at: 0.6235-40, 0.6170, 0.6130
The main scenario for the pair's advance assumes a breakout of the resistance of 0.6295 (Jan 22, 29 and Feb 5 high) and there may be an increase to 0.6330 (Jan 24 high).
An alternative scenario for the pair's advance implies a breakout of 0.6235-40 (Feb 5 low, MA (200) H1) and there may be a decline to 0.6170 (Feb 4 low)
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