On the H1 chart of AUDUSD, the last 48 candles show a classic bearish swing after a short‑term rally. The pair rallied to a high of 0.69697 on the 2026‑07‑09 session, but the close of that candle was a modest 0.69602, immediately followed by a series of lower closes that have now settled around 0.6945‑0.6950. Each successive high has been lower than the previous one, confirming a descending‑channel pattern and a shift in momentum. Volume has been tapering on the down‑moves, indicating that the pull‑back is losing steam and that sellers are taking control. The 0.6951 level sits just below…

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