The audusd pair above is forming a rising wedge on this time frame and despite the recent jump higher and overall bullish character of the market, short side should be favored. The pain for bears was seen for bulls as well as the more aggressive the selling was, equally aggressive buyers stepped in. This makes the pattern to keep more or less the same levels for the whole summer, one thing that is visible on other currency pairs as well. No matter what the risk-off event was, Brexit, Jackson Hole speech, NFP in the United States, after the initial negative reaction, bulls stepped in and reversed the move. Considering the fact that the 2-4 trend line is already broken, there are limited possibilities for the fifth wave, one of them being a contracting triangle. Conservative traders may want to wait to see prices moving below the 2-4 trend line again before selling, while aggressive ones can sell here for 0.7408 target and with 0.7833 stop loss.