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  • Aussie bulls lifted AUD/USD to 0.7200  putting the main bear trend on hold.  
  • Bulls regained the 50-period simple moving average but were rejected at the 100 SMA. The RSI, MACD are still bullish while the Stochastic indicator is already overbought.  
  • All-in-all AUD/USD bulls are still in charge and an extension of the bullish reversal to 0.7300 can be on the cards if the bulls can break 0.7236 (August 24 low).  

AUD/USD 4-hour chart

Spot rate:                 0.7198
Relative change:       0.42%      
High:                        0.7231
Low:                         0.7165

Main trend:              Bearish
Short-term trend:     Bullish correction above 0.7085, 2018 low  

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  

Expert score

5

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