AUD/USD Technical Analysis: Aussie plummeting to new 2018 lows

• AUD/USD main bear trend is intact as the currency pair trades below its 50, 100 and 200-day simple moving averages and within the bear channel.  
• AUD/USD is trading at new 2018 lows while the RSI, Full Stochastics and MACD indicators are all bearishly configured suggesting more downside in the near-future.
• The next bear target to the downside is seen near 0.7000 figure.  

AUD/USD daily chart

Spot rate:                 0.7105
Relative change:     -1.33%      
High:                        0.7205
Low:                         0.7101

Main trend:              Bearish

Resistance 1:          0.7159 December 26 low
Resistance 2:          0.7200 figure
Resistance 3:          0.7236 August 24 low
Resistance 4:          0.7255 August 13 low
Resistance 5:          0.7294 August 13 high

Support 1:          0.7100 figure
Support 2:          0.7000 figure
Support 3:          0.6830 January 15, 2016 low