The AUDUSD on the daily timeframe has been consolidating in a range-bound environment, with price oscillating between the 0.705 and 0.725 levels. The recent surge above 0.725 was met with resistance, and price has begun to decline. The bearish momentum is evident on the daily chart, with a clear downtrend forming over the past few weeks. The daily RSI is also in oversold territory, indicating that a potential reversal may be imminent. However, our technical analysis suggests that the AUDUSD is poised to continue its downtrend. The strong selling pressure and weak buying interest indicate that the bears are in…

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