AUD/USD trying to get consolidated below 200-day moving average (H1 chart)

The AUD/USD remains below the 200 SMA, towards the support level of 0.9309.

Now, the Aussie is trying to make a breakout at the support level. If successful, it is expected to fall to the level of 0.9283, which would be a bearish consolidation. However, if the AUD/USD manages to make a breakout in the daily pivot point level of 0.9356, next target would be the resistance level of 0.9382.

The MACD indicator remains in positive territory, so we must be careful when placing buy orders.

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