AUD/USD Technical Analysis: Aussie currently supported in the 0.6900 region, challenging daily trendline

• AUD/USD finds intraday support at 0.7606, the daily 50-period simple moving average and May 22 high.
• AUD/USD is challenging a descending trendline from late January suggesting that a bull breakout above 0.7668 current weekly high can lead to a sizeable move higher toward the 0.7700 handle.

AUD/USD daily chart

Spot rate:                0.7603
Relative change:   -0.58%     
High:                       0.7658
Low:                        0.7594

Trend:                     Bullish

Support 1:              0.7606 daily 50-period SMA and May 22 high
Support 2:              0.7560 current weekly low
Support 3:              0.7476 May 30 swing low

Resistance 1:         0.7668 current weekly high
Resistance 1:         0.7700 handle
Resistance 3:         0.7750, 100 and 200-period SMA