The AUDUSD Instrument: AUD/USD has been trading within a descending trend on the D1 timeframe, as evident from the lower highs and lower lows formation. The recent candles have shown a bearish momentum, with the price breaking below the support level of 0.719. The volume has been increasing, which confirms the strength of the move. The current price action suggests that the bears are in control, and we can expect the price to continue its downward movement. The key resistance levels to watch out for are the previous highs around 0.725, and a break below the current low of 0.712…

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