AUD/USD Technical Analysis: AUD/USD can fall to 0.7000 figure

• AUD/USD bear trend is intact as the market is printing a fresh 2018 low this Friday.
• AUD/USD is trending in a bear channel below downward sloping 50, 100 and 200-period simple moving averages. The RSI, Stochastics and MACD indicators are bearishly configured, suggesting that the risk is tilted to the downside.  
• Now that 0.7200 swing low has been beached there is only 0.7159 support (December 26, 2016 low) to break in order to reach 0.7100 and 0.7000 figure targets.  

AUD/USD daily chart

Spot rate:                0.7188
Relative change:     -1.04%      
High:                        0.7270
Low:                         0.7177

Main trend:              Bearish

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

Support 1:          0.7159 December 26, 2016 low
Support 2:          0.7100 figure
Support 3:          0.7000 figure