14:07 AUD/USD remains above MA 200 H1
On Friday, the AUD/USD traded in different directions in the range of $0.7405-$0.7440 and closed the day without significant changes. Today it dropped slightly, dropping to $0.7400. On the hourly chart, AUD/USD is still trading above the MA line (200) H1 ($0.7340). 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: $0.7440, $0.7465-75, $0.7500
Support levels are at: $0.7370, $0.7325, $0.7290
Probably, the main scenario is an upward movement to $0.7440 (Oct 15 high). Alternative scenario is consolidation below MA 200 H1, followed by a decline to $0.7225 (Oct 6 low).
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