On the H4 chart of AUD/USD, we observe a developing downtrend. Price has been consistently making lower highs and lower lows since the beginning of the candle window, indicating a bearish momentum. The recent price action has formed a bearish engulfing pattern, further supporting the sell signal. The volume has been increasing on the downside, confirming the strength of the move. The current price is trading near the support level of 0.71908, which was previously tested and rejected. This suggests that the price is poised to break below this level and continue its downward trajectory. Looking ahead, we expect the…

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