AUD/USD Technical Analysis: Bear trend can drive AUD/USD back to 0.7200 figure

• AUD/USD main bear trend remains intact.  
• AUD/USD is trading in a bear channel below its 50, 100 and 200-day simple moving averages. The main targets are 0.7236 (August 24 low) and 0.7200 figure;
• A bull breakout above 0.7380 (August 21 swing high) would invalidate the bearish bias.

AUD/USD daily chart

Spot rate:                0.7265
Relative change:     -0.66%      
High:                        0.7317
Low:                         0.7256

Main trend:              Bearish below 0.7380

Resistance 1:          0.7345 August 3 low
Resistance 2:          0.7364 June 28 high
Resistance 3:          0.7380 August 21 swing high
Resistance 4:          0.7407 May 8 low

Support 1:          0.7294 August 13 high
Support 2:          0.7255 August 13 low
Support 3:          0.7236 August 24 low
Support 4:          0.7200 figure
Support 5:          0.7159 December 26, 2016 low
Support 6:          0.7100 figure