Technical analysis

11 June 2021

14:18 AUD/USD remains above MA 200 H1

Yesterday the AUD/USD was trading higher and closed the day in positive territory around the $0.7750. Today it was trading in a narrow range of $0.7745-55, staying close to yesterday's closing price. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7730). 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 for the formation of a correction.

  • Resistances levels are at: $0.7765-70, $0.7795, $0.7810

  • Support levels are at: $0.7715, $0.7645-50, $0.7585

Probably, the main scenario is the continuation of the upward movement to $0.7765 (Jun 7 high). An alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7715 (Jun 10 low).

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