The AUDUSD H4 chart presents a bearish scenario, with a decline in price action over the past few trading sessions. The last candlestick forms a bearish engulfing pattern, indicating a strong sell-off. The price has broken below the previous low, creating a new low at 0.72221. This suggests a loss of momentum and a potential continuation of the downtrend. The volume, although not extremely high, supports the bearish thesis, as it has been decreasing in the last few candles. This indicates a lack of buying interest, which is a negative sign for the bulls. The current setup supports a short…

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