Technical analysis

18 September 2020

13:58 AUD/USD remains above MA 200 H1

Yesterday the AUD/USD traded in different directions in the range of $0.7255-$0.7315 and closed the day without significant changes. Today it traded in a narrow range of $0.7310-30, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7280). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the AUD/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.

  • Resistances levels are at: $0.7340, $0.7365, $0.7410

  • Support levels are at: $0.7250-55, $0.7195-05, $0.7150

AUD/USD remains above MA 200 H1 18.09.2020

Probably, the main scenario - is the continuation of the upward movement to $0.7340 (Sep 16 high). An alternative scenario - may be consolidation below MA 200 H1, followed by a decline to $0.7205 (low of the European session on Sep 9).

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