AUD/USD Technical Analysis: Aussie is retracing down en route to 0.7200 figure

• AUD/USD is trading in a bull trend above the 200-period simple moving average.  
• AUD/USD met a solid resistance at the 0.7300 figure. The market is pulling back down and retracing the recent bullish advance seen in November. Technical indicators are bearish although the Stochastic is already in oversold condition.  
• 0.7200 is the target to the downside.  

AUD/USD 4-hour chart

Main trend:              Bullish

Resistance 1:          0.7260 November 2 high
Resistance 2:          0.7300 figure
Resistance 3:          0.7383 August 21 high
Resistance 4:          0.7400 figure

Support 1:               0.7200 zone, 200 SMA (4H) and August 15 low
Support 2:               0.7144 September 5 low
Support 3:               0.7100 figure
Support 4:               0.7085, September 11 low

Additional key levels at a glance: