AUD/USD Technical Analysis: Aussie remains under pressure below the 0.7100 figure

• AUD/USD is trading in a bear trend below the 200-period simple moving average (SMA) on the 4-hour chart.  
• AUD/USD rejected the 0.7100 level and the 100 SMA as bears are targeting the 0.7050 level. The RSI and MACD indicators remain weak however the Stochastic is above the 50 line.
• A break above 0.7100 would likely invalidate the bearish bias.  

AUD/USD 4-hour chart  

Spot rate:                 0.7077
Relative change:       0.26%      
High:                        0.7101
Low:                         0.7055

Main trend:              Bearish

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 1:               0.7041 October low
Support 2:               0.7000 figure
Support 3:               0.6830 January 15, 2016 low