Bias Bearish AUDUSD, Potential Test To 0.6950

Based on 4-hour chart, the overall bias looks bearish as prices are still moving below the MA 50-100-200 signal in the 4 hours chart. In addition, the bearish move is also supported by the MACD indicator which moves below the center line and the Stochastic indicator seems to be moving downwards.

The closest support level seen at 0.7100 area, breaking down the price of the area likely to continue further bearish movement towards 0.7035 area, back through to the bottom of the 0.7035 area, prices are likely to continue the bearish movement towards 0.6950 strong support area. Meanwhile to the upside, immediate resistance levels seen at 0.7160 area, breaking through to the top of the area the price is likely to move the neutral line instructions least in the short run to test the 0.7230 area before aim for 0.7320 strong resistance area.

Resistance levels: 0.7160, 0.7230, 0.7320
Support levels: 0.7100, 0.7035, 0.6950