- AUD/USD main bear trend is getting challenged as the bulls want to break above the 0.7300 level, the 50-day simple moving average and the multi-month bear trendline.
- AUD/USD is consolidating the recent bullish advance as it is trading above the 0.7200 figure. The RSI indicator is above 50 and the MACD remains supportive for more gains/
- Bulls objective is to keep AUD/USD above 0.7200 and to break above the 0.7300 key level in order to create a bullish reversal of the main bear trend.
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Spot rate: 0.7250
Relative change: -0.02%
High: 0.7265
Low: 0.7235
Main trend: Bearish
Resistance 1: 0.7294-0.7307 August 13 high, 50 DMA
Resistance 2: 0.7383 August 21 high
Resistance 3: 0.7485 July 10 high
Support 1: 0.7255 August 13 low
Support 2: 0.7236 August 24 low
Support 3: 0.7200 figure August 15 low
Support 4: 0.7144 September 5 low
Support 5: 0.7085, 2018 low
Support 6: 0.7000 figure
Support 7: 0.6830 January 15, 2016 low
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