AUDUSD still tend to be bearish, to test 0.7000 area

Still likely bearish bias for the AUDUSD as the price is still moving below the MA 50-100-200 signal in the 4 hours chart. However, we must beware of rebound due Stochastic indicator is in the oversold area.

For the downside, nearest support level at 0.7000 area, breaking down the price of the area likely to continue further bearish movement to test the 0.6950 area before aim for 0.6885 strong support area. Meanwhile to the upside, immediate resistance levels seen at 0.7050 area, breaking through to the top of the zone rates will likely move along at least neutral in the short term test instructions to the 0.7100 area before aim for 0.7170 strong resistance area.

Resistance levels: 0.7050, 0.7100, 0.7170
Support levels: 0.7000, 0.6950, 0.6885