The AUDUSD instrument has been exhibiting a downtrend on the daily timeframe, with the price consistently testing and retesting the support level around 0.705. The recent candles have shown a decrease in momentum, with the price failing to break above the 0.72 resistance. This indicates a weakening trend, which is a classic setup for a sell signal. The volume data also supports this signal, as the volume has been decreasing over the past few candles, indicating a lack of buying interest. The current candle is a bearish engulfing pattern, which further confirms the sell signal. The AUDUSD is likely to…

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