AUD/USD represents the exchange rate between the Australian dollar and the US dollar, a widely traded currency pair in the foreign exchange market. On the H1 timeframe, the AUDUSD pair has been consolidating within a tight range, with a clear bearish momentum developing over the past two days. The recent high at 0.70896 serves as a crucial resistance level, while the low at 0.70351 acts as a support. The declining trend is further reinforced by the decreasing volume, indicating a lack of buying pressure. The current price action suggests a potential breakdown below the support level, leading to a further…

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