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) 

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 

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