• AUD/USD was down around 70 pips after weak retail sales data, testing the 0.7000 handle
  
  
• The pair failed to break below and a swift bounce ensued, taking the pair to 0.7020 levels
  
  
• AUD/USD is being supported by quiet Asian equity markets with holiday in China 
  
  
• Long-term bear trend intact, hourlies point lower, selling rallies towards 0.7157 (10-Day MA) favored
• The pair is currently trading at 0.7018, with immediate resistance at 0.7048 (Session High Sept 2) and support at 0.6982 (Session Low Sept 2)
  
  

Resistance Levels:

R1: 0.7048 (Session High Sept 2)

R2: 0.7155 (Session High Sept 1)

R3: 0.7157 (10-Day MA)

Support Levels:

S1: 0.6982 (Session Low Sept 2)

S2: 0.6950 (Daily Low Apr 20 2009)

S3: 0.6855 (Daily Low Apr 1 2009)