AUD/USD Technical Analysis: Aussie bulls defending the market above 0.7600 level

• The Aussie is grinding higher as the bulls are working at keeping AUD/USD above the 0.7600 level and the 50, 100 and 200-period simple moving averages (4-hour).
• However, as AUD/USD is trading in a rising wedge, the bulls will need to break above the 0.7630 level, last Friday’s high to have a chance to reclaim last week’s high.
• A strong bear  breakout below the 0.7600 level can see a retest of 0.7560 last Friday’s low.

AUD/USD 15-minute chart  

Spot rate:                  0.7613
Relative change:       0.15%      
High:                        0.7619
Low:                          0.7590

Trend:                       Neutral to bullish on a break above 0.7630            

Resistance 1:            0.7619, current Monday’s high
Resistance 2:            0.7630, 5-period daily SMA, last Friday’s high
Resistance 3:            0.7678 last week’s high

Support 1                  0.7602, 50-period daily SMA      
Support 2:                 0.7560 last Friday’s low    
Support 3:                 0.7514 last week’s low