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