AUD/USD Technical Analysis: Rising wedge can send Aussie down to 0.7200 figure

• AUD/USD is in a bear trend since January 2018.  
• AUD/USD is evolving in a rising wedge pattern as bulls had three main attempts to accelerate above the 0.7380 resistance level. If bulls fail to breakout above the level soon, a rotation down is likely with targets at 0.7294, 0.7255 (August 13 low) and  0.7200 figure.
• A bull breakout above 0.7380 would invalidate the bearish bias.

AUD/USD 15-minute chart

Spot rate:                0.7337
Relative change:      -0.21%      
High:                        0.7364
Low:                         0.7319

Main trend:              Bearish below 0.7380

Resistance 1:          0.7345 August 3 low
Resistance 2:          0.7364 June 28 high
Resistance 3:          0.7380 August 21 swing high
Resistance 4:          0.7407 May 8 low

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