The H4 chart of AUDUSD presents a bearish setup, with the recent high at 0.72236 serving as a resistance level. The price has been trading within a descending channel, indicating a strong downtrend. The volume has been increasing on the way down, validating the bearish momentum. The Relative Strength Index (RSI) is in oversold territory, suggesting a potential bounce, but the overall trend remains bearish. The recent candlestick pattern, a bearish engulfing pattern, further supports the sell signal. The price is expected to break below the support level at 0.7181, targeting the next support at 0.71391. The current setup supports…

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