AUD/USD Technical Analysis: immediate channel resistance can disappoint Aussie bulls at 0.7180

• AUD/USD trades little changed near 0.7170 during initial Wednesday.
• The pair defied weaker than expected 0.6% print of fourth quarter 2018 Australian wage price index to 0.5% as it rose to the intra-day high of 0.7175 post-release.
• However, resistance-line of an upward sloping trend-channel stretched since February 12, at 0.7180, coupled with oversold levels of 14-bar relative strength index (RSI), can disappoint the Aussie bulls.
• In case, the prices refrain to respect the 0.7180 resistance, 0.7195 and 0.7210 may offer intermediate halts to their rally towards 0.7230, 0.7250 and 0.7265 consecutive numbers to the north.
• Meanwhile, 0.7145 can act as immediate support to the pair during its pullback whereas 0.7115 and the channel-support figure of 0.7105 may limit following declines.
• If the quote slips under 0.7105, also validate the decline by breaking 0.7000 round-figure, then a chance of witnessing 0.7050 again on chart can’t be denied.

AUD/USD hourly chart