- AUD/USD is trading in a bear trend below the 100-period simple moving average.
- AUD/USD found strong support after the market reached a new yearly low.
- Bulls objective is to reach 0.7100 where is the 50 and 100 SMA. A break of 0.7100 would open the gates to 0.7144 (September 5 low).
AUD/USD 4-hour chart
Spot rate: 0.7064
Relative change: -0.24%
High: 0.7084
Low: 0.7020
Main trend: Bearish
Short-term: Bullish
Resistance 1: 0.7085, September 11 low
Resistance 2: 0.7100 figure
Resistance 3: 0.7144 September 5 low
Resistance 4: 0.7174-0.7200 zone, 200 SMA (4H) and August 15 low
Resistance 5: 0.7300 figure
Support 1: 0.7050 figure
Support 2: 0.7041 key support/resistance
Support 3: 0.7000 figure
Support 4: 0.6830 January 15, 2016 low