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  • AUD/USD is trading in a bear trend.  
  • AUD/USD has found support at the 0.7200 figure for the third consecutive day. The 100-period simple moving average is also supporting the market while the RSI, MACD and Stochastics indicators are supportive of higher prices. If bulls can continue to gain traction above 0.7200 figure, targets to the upside can become the 0.7294-0.7307 zone (August 13 high, 50 DMA) and 0.7383 (August 21 high).  
  • On the flip side, a bear breakout below 0.7200 would open the gates to 0.7144 (September 5 low)  

AUD/USD 4-hour chart

Spot rate:                 0.7227
Relative change:       0.08%      
High:                        0.7233
Low:                         0.7206

Main trend:              Bearish

Resistance 1:          0.7236 August 24 low
Resistance 2:          0.7255 August 13 low
Resistance 3:          0.7294-0.7307 August 13 high, 50 DMA
Resistance 4:          0.7383 August 21 high
Resistance 5:          0.7485 July 10 high

Support 1:               0.7200 figure August 15 low
Support 2:               0.7144 September 5 low
Support 3:               0.7085, current 2018 low
Support 4:               0.7000 figure
Support 5:               0.6830 January 15, 2016 low