AUD/USD Technical Analysis: Relentless bulls lift AUD/USD to daily highs – Targeting 0.7400 figure

• AUD/USD main bearish trend is currently in a bullish pullback for the fifth day in a row.
• AUD/USD is trading in a bull channel with the 100 and 200-period simple moving averages sloping upward suggesting bullish momentum. After reaching 0.7345 target bulls objective is to now keep the market above 0.7364 resistance in order to reach 0.7407 May 8 low.  
• A sustained bear breakout below 0.7294 would negate the short-term bias.  

 
AUD/USD 15-minute chart

Spot rate:                 0.7366
Relative change:      0.38%      
High:                        0.7372
Low:                         0.7331

Main trend:              Bearish
Short-term trend:     Bullish above 0.7294

Resistance 1:          0.7364 June 28 high
Resistance 2:          0.7380 June 26 low
Resistance 3:          0.7407 May 8 low

Support 1:          0.7345 August 3 low
Support 2:          0.7294 August 13 high
Support 3:          0.7255 August 13 low
Support 4:          0.7200 figure
Support 5:          0.7159 December 26, 2016 low
Support 6:          0.7100 figure