However, the stated wedge’s top line, near 0.6760 by the press time, can challenge the Aussie pair’s immediate upside.
Even if the quote manages to cross the 0.6760 hurdle, the 200-SMA level of 0.6775 can challenge the AUD/USD bulls before giving them control.
On the flip side, a convergence of the 100-SMA and 50-SMA appears short-term strong support, around 0.6675 at the latest.
Following that, the stated wedge’s lower line and the resistance-turned-support can please the bears near 0.6660 and 0.6620.
It should be observed that the AUD/USD pair’s sustained break of 0.6660 would confirm the rising wedge bearish chart pattern suggesting the theoretical target of 0.6460.
Overall, AUD/USD is likely to remain firmer but the upside room appears limited
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