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  • AUD/USD main bear trend is being challenged as the market is trading near the 50-day simple moving average (DMA) and the multi-month bear trendline from late January 2018. Bulls want to breakout above those levels.
  • However, in the short-term, AUD/USD is capped by 0.7300 figure, the 50-day simple moving average (DMA) and the multi-month bear trendline.  
  • A mild pullback down seems likely with 0.7236 (August 24 low) and 0.7200 figure as potential bear targets.

AUD/USD 4-hour chart

Spot rate:                 0.7258
Relative change:     -0.43%      
High:                        0.7283
Low:                         0.7252

Main trend:              Bearish

Resistance 1:          0.7294-0.7307 August 13 high, 50 DMA
Resistance 2:          0.7383 August 21 high
Resistance 3:          0.7485 July 10 high

Support 1:               0.7255 August 13 low
Support 2:               0.7236 August 24 low
Support 3:               0.7200 figure August 15 low
Support 4:               0.7144 September 5 low
Support 5:               0.7085, 2018 low
Support 6:               0.7000 figure
Support 7:               0.6830 January 15, 2016 low