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- AUD/USD declines and tests MA (200) H1
AUD/USD declines and tests MA (200) H1
Yesterday, the AUD/USD pair mostly grew in the range of 0.6180-1.6245 and closed near the price of 0.6225. Today, the pair started trading with a decrease from 0.6245 to 0.6165, having lost some of the positions gained yesterday. On the hourly chart, AUD/USD is testing the MA (200) H1 (0.6205) moving average line, but on the four-hour chart it remains much lower than MA (200) H4 (0.6305). Based on the above, it is probably worth following the southern direction in trading and as long as the pair remains below MA (200) H4, it is worth looking for entry points to sell at the end of the correction.
Resistance levels are at: 0.6245, 0.6290-6300, 0.6330
Support levels are at: 0.6195, 0.6165, 0.6130
The main scenario for the pair's advance suggests a breakout of the session low of 0.6195 and a possible decline to 0.6165 (Jan 14 low)
An alternative scenario for the pair's advance implies a breakout of the resistance 0.6245 (Jan 15 high, session maximum) and there may be an increase to 0.6290-6300 (Jan 6-7 high)
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