AUD/USD Technical Analysis: bulls wary of bearish wedge while eyes stay on top of cloud at 0.7700

• Bulls face pressures in a bearish wedge formation as price stumbles through the  base of the cloud at rising resistance line.  
• Bearish target comes as the 0.7619 0.382 fib in near-term trading conditions.  
• Upside target comes as 0.7687, R2-1D ahead of 0.7700 top of the cloud.  

Daily chart

Spot rate:                      0.7665
Relative change:           -0.03%      
High:                             0.7673
Low:                              0.7663

Trend:                          Neutral

Support 1:                     0.7619  38,2%-1D   Fib                
Support 2:                     0.7550  38,2%-1W  Fib                                    
Support 3:                     0.7522  61,8%-1W  Fib

                         
Resistance 1:                0.7687  R2-1D
Resistance 2:                0.7715  R3-1D
Resistance 3:                0.7730 Oct 5th 2017 lows