Bias Bearish AUDUSD, Beware of resistance at 0.7050

Based on 4-hour chart, AUDUSD still likely bias to bearish, especially for the price is still moving below the MA 50-100-200. In the short term bearish signal is amplified by the MACD indicator which is in negative territory and the Stochastic indicator looks prepared to move down.

To the downside, immediate support seen at 0.6910 area, breaking down of the region the price can move further bearish pressure towards 0.6850 area before retesting to strong support area at 0.6750. For the upside, closest resistance levels seen at 0.7050 area, breaking through to the top of the zone rates will likely move along at least neutral instructions to test the 0.7170 area before retest to the 0.7250 region.

Resistance levels: 0.7050, 0.7170, 0.7250
Support levels: 0.6910, 0.6850, 0.6750