14:05 The AUD/USD is testing the MA 200 H1 resistance
On Friday, the AUD/USD was trading higher and closed the day in positive territory around the $0.7265. Today it was trading in a narrow range of $0.7250-80, staying close to Friday's close. On the hourly chart, AUD/USD is testing resistance - the moving average MA (200) H1 ($0.7245). On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the AUD/USD remains below MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.
Resistances levels are at: $0.7280, $0.7310-20, $0.7345
Support levels are at: $0.7190, $0.7170, $0.7150
Probably, the main scenario is a downward movement to $0.7190 (Oct 1 low). An alternative scenario is consolidation above the MA 200 H1 with a subsequent rise to $0.7410 (Sep 10 high).
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