On the H1 chart of AUDUSD the last 48 candles show a clear two‑stage pattern. A rapid down‑move from 0.7065 to a sharp low of 0.70415 was accompanied by a volume spike of over 15k contracts, confirming strong selling pressure. The decline continued to a new trough around 0.70073, again on heavy volume (≈14k), suggesting capitulation. From that point the market found a firm floor near 0.701. Subsequent candles closed above the low, with the 02:00‑03:00 UTC session producing a bullish candle (0.70179‑0.70304) on rising volume, indicating that buyers absorbed the sell‑off. The price now oscillates in a narrow 0.701‑0.704…

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