AUD/USD Technical Analysis: Aussie bears taking the helm can drive the market to new 2018 low near 0.7000 figure

• AUD/USD is trading in a bear trend below the 200-period simple moving average.  
• AUD/USD is currently testing the 0.7085 (September 11 low) and there seems little in the way for the market to drop to 0.7000 figure and print a new 2018 low.
• A break above 0.7144 (September 5 low) on a daily closing basis would likely invalidate the bearish bias.

AUD/USD 4-hour chart

Spot rate:                 0.7087
Relative change:      -0.44%      
High:                        0.7127
Low:                         0.7075

Main trend:              Bearish

Resistance 1:          0.7100 figure
Resistance 2:          0.7144 September 5 low
Resistance 3:          0.7174-0.7200 zone, 200 SMA (4H) and August 15 low
Resistance 4:          0.7300 figure

Support 1:               0.7085, September 11 low
Support 2:               0.7041 October low
Support 3:               0.7000 figure
Support 4:               0.6830 January 15, 2016 low