The AUDUSD pair has been in a downtrend on the daily timeframe since February 24. The recent candles have formed a series of lower highs and lower lows, indicating a strong bearish momentum. The price has been trading below the 20-period moving average, which is a sign of a downtrend. The Relative Strength Index (RSI) has also been in the oversold territory, suggesting that the price is due for a bounce. However, the increasing volume on the downtrend candles indicates that the sellers are still in control. The recent candles have also formed a bearish engulfing pattern, which is a…

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