AUD/USD Technical Analysis: Aussie bulls drive AUD/USD at weekly highs nearing 0.7300 figure

• AUD/USD main bear trend is on hold for the seventh consecutive day.  
• AUD/USD is testing the 200-period simple moving average below the 0.7300 figure. While the momentum is up, the RSI and Stochastics are in overbought condition near key levels so investors must keep in mind that pullbacks down are possible. However, nothing indicates that the bull leg should reverse to bearish.  
• The resistances to overcome for bulls are 0.7294 (August 13 high) and 0.7383 (August 21 high).
   

AUD/USD 4-hour chart

Spot rate:                 0.7264
Relative change:      0.64%      
High:                        0.7276
Low:                         0.7207

Main trend:              Bearish
Short-term trend:     Bullish

Resistance 4:          0.7294 August 13 high
Resistance 5:          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