AUD/USD Technical Analysis: Aussie challenging the 0.7200 figure can open the gate to more losses to 0.7144 level

• AUD/USD main bear trend remains intact as the bears are defending the 50-day simple moving average and the multi-month trendline.
• AUD/USD rejected the 0.7300 figure and is now challenging the 0.7200 level. The RSI, MACD and Stochastics are decelerating suggesting the bear move might continue.
• The bear targets to the downside can be located near 0.7144 September 5 low and 0.7085, current 2018 low. However, a bull breakout above 0.7300 would invalidate the bearish bias.  

AUD/USD 4-hour chart

Spot rate:                 0.7219
Relative change:     -0.53%     
High:                        0.7270
Low:                         0.7209

Main trend:              Bearish

Resistance 1:          0.7236 August 24 low
Resistance 2:          0.7255 August 13 low
Resistance 3:          0.7294-0.7307 August 13 high, 50 DMA
Resistance 4:          0.7383 August 21 high
Resistance 5:          0.7485 July 10 high

Support 1:               0.7200 figure August 15 low
Support 2:               0.7144 September 5 low
Support 3:               0.7085, current 2018 low
Support 4:               0.7000 figure
Support 5:               0.6830 January 15, 2016 low