AUD/USD Technical Analysis: Aussie bulls erase October losses and test the 0.7200 figure

• AUD/USD is in a bear trend below its 200-day simple moving average on the daily chart. 
• AUD/USD is testing the 0.7200 figure as the bulls took the lead. The RSI and Stochastic are in overbought condition while the MACD indicator is bullish. All suggesting bullish continuation in the coming sessions if the 0.7200 level gets broken
• Targets to the upside are likely located near 0.7300 figure and 0.7383 August 21 high.  

AUD/USD 4-hour chart

Main trend:              Bearish

Resistance 1:          0.7174-0.7200 zone, 200 SMA (4H) and August 15 low
Resistance 2:          0.7300 figure
Resistance 3:          0.7383 August 21 high

Support 1:               0.7144 September 5 low
Support 2:               0.7100 figure
Support 3:               0.7085, September 11 low
Support 4:               0.7050 figure
Support 5:               0.7041 key support/resistance

Additional key levels at a glance: