AUD/USD Technical Analysis: Bears keep Aussie below 0.7200 figure getting ready to revisit the 2018 low

AUD/USD bear trend remains intact as the market rejected the 0.7200 figure.
AUD/USD is trading below its 100 and 200-period simple moving average while the RSI, MACD and Stochastics indicators are turning bearish.
Bears objective is to break below 0.7144 support (September 5 low) in order to reach 0.7085 (2018 low)

Flavio Tosti Independent Analyst

AUD/USD 4-hour chart

Spot rate: 0.7162
Relative change: -0.46%
High: 0.7218
Low: 0.7153

Main trend: Bearish

Resistance 1: 0.7200 figure August 15 low
Resistance 2: 0.7236 August 24 low
Resistance 3: 0.7255 August 13 low
Resistance 4: 0.7294 August 13 high

Support 1: 0.7144 September 5 low
Support 2: 0.7085, 2018 low
Support 3: 0.7000 figure
Support 4: 0.6830 January 15, 2016 low

Author

Flavio Tosti

Independent Analyst

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