AUD/USD Technical Analysis: Bulls keeping Aussie afloat in rising wedge above 0.7600

• AUD/USD is in a wedge consolidation as the Aussie is trading just above its daily 50-period simple moving average.
• A bull breakout above 0.7630, 5-period daily SMA and last Friday’s high can lead to a retest of June’s high at 0.7678.
• However, a strong bear breakout below the trendline can see a retest of 0.7560 last Friday’s low.  

AUD/USD 15-minute chart  

Spot rate:                 0.7607
Relative change:       -0.02%      
High:                        0.7625
Low:                         0.7583

Trend:                      Neutral    

Resistance 1:           0.7630, 5-period daily SMA, last Friday’s high
Resistance 2:           0.7678 June’s high
Resistance 3:           0.7754, 200-period SMA

Support 1                 0.7606, 50-period daily SMA      
Support 2:                0.7560 last Friday’s low    
Support 3:                0.7514 last week’s low  

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