AUD/USD technical analysis: Aussie trading at daily lows as bears challenge the 0.7000 handle

• AUD/USD is retracing down after reaching 2-month highs last week.
• The bears need to break below the 0.7000 handle to resume the bear trend.

AUD/USD daily chart
 

The Aussie is trading in a bear trend below the 0.7100 figure and its 200-day simple moving average (DSMA).

AUD/USD 4-hour chart
 

AUD/USD is retracing down as the market is trading below 0.7010 resistance and the 50 SMA. Bears want to break below the 0.7000 handle to reach 0.6981 and 0.6955 support.

AUD/USD 30-minute chart

AUD/USD is trading below its main SMAs suggesting bearish momentum in the near term. Immediate resistances can be seen near 0.7010 and 0.7030 levels. 

Additional key levels