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- AUD/USD has held above minor support at 0.7584 on Wednesday's trade and is edging higher on the day.
- Upside finds stiff resistance by 20-DMA at 0.7637, only break above could see pair extend gains.
- Techs on weekly charts support upside, strength seen in RSI which is at 58 levels.
- Daily charts show stiff resistance at 520-DMA, techs are biased higher.
- Stochs is on the verge of a bullish crossover from oversold levels and RSI is strong at 53.
- Break below 0.7583 could drag the pair lower to test 0.7560 (rising trendline), violation there could see test of 0.7480.
- On the upside, break above 20-DMA at 0.7637 could see upside upto 0.7723 and then 0.7750 (trendline).
- Markets wary ahead of the Jackson Hole Symposium, which may provide clues on the US interest rates outlook for this year.
Recommendation: Go long on breakout above 0.7637, target 0.77/ 0.7723/ 0.7750
