AUD/USD, a currency pair representing the Australian dollar against the United States dollar, has been trending downward over the past 48 hours. On the H1 timeframe, we observe a series of lower highs and lower lows, indicating a bearish momentum. The recent candlestick pattern shows a bearish engulfing pattern, confirming the downtrend. The volume has been increasing, with a peak of 12703 at the current price level, indicating a strong selling pressure. The current price is trading near the support level of 0.71671, which is likely to act as a strong resistance level if broken. The price action suggests a…

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