On the AUDUSD H1 chart the market has been carving a descending channel since the high of 0.6921 on June 27. The last three hourly bars have nudged lower, testing the 0.6885 support zone while volume has steadily contracted, indicating diminishing sell‑side aggression. The candle at 22:00 UTC closed near the entry level, forming a bullish engulfing pattern on a thin volume base, which often precedes a short‑term bounce. With the 0.6885‑0.6890 area now acting as a firm floor, the next logical move is upward toward the prior swing high around 0.6920. The stop‑loss just below the recent low protects…

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