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- AUD/USD is trading near a 2-week high
AUD/USD is trading near a 2-week high
Yesterday, the AUD/USD pair was trading multidirectionally in the range of 0.6250-0.6295 (near a 2-week high) and closed the session near the price of 0.6270. Today, the pair is trading in the range of 0.6265-80, near the closing level of yesterday's session. On the hourly chart, AUD/USD has risen above the MA (200) H1 (0.6220) moving average line, but on the four-hour chart it is testing MA (200) H4 (0.6265). Based on the above, it is probably worth starting to stick to the northern direction in trading and as long as the pair remains above MA (200) H1, it is worth starting to look for entry points to buy.
Resistance levels are at: 0.6295-0.6300, 0.6330, 0.6385
Support levels are at: 0.6250, 0.6210-20, 0.6190
The main scenario for the pair's advance implies a breakout of the resistance of 0.6295-6300 (Jan 6 and 22 highs) and there may be an increase to 0.6330 (high of the American session on Dec 18)
An alternative scenario for the pair's advance suggests a breakout of the support 0.6250 (Jan 22 low) and a possible decline to 0.6210-20 (Jan 21 lows, MA (200) H1)
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