AUD/USD Technical Analysis: Is the Aussie oversold and ready to bounce up ?

• AUD/USD is trading near 32-month low as it is in a bear trend.  
• AUD/USD is trading in the lower part of a bear channel as it consolidating the recent losses above the 0.7050 level. The RSI, MACD and Stochastics indicators are also constructive for a  potential upside move.  
• Targets for bulls can be located near 0.7144 (September 5 low) and if buyers have enough steam 0.7200 figure (August 15 low).  

AUD/USD 4-hour chart

Spot rate:                 0.7067
Relative change:       0.21%      
High:                        0.7079
Low:                         0.7041

Main trend:              Bearish

Resistance 1:          0.7085, September 11 low
Resistance 2:          0.7144 September 5 low
Resistance 3:          0.7200 figure August 15 low

Support 1:               0.7000 figure
Support 2:               0.6830 January 15, 2016 low  
Support 3:               0.6800 figure