AUDUSD: Bearish Trendline Caps Recovery Momentum

AUDUSD is recovering toward the 0.6940 level, but this upward move lacks the strength to alter the primary market structure. On the H4 chart, the price remains capped below the bearish trendline extending from mid-June while approaching the 0.6945–0.6965 resistance zone—an area that has previously triggered repeated selling reactions.

Notably, the price attempted a rebound after bottoming out near 0.6888, yet buying momentum is fading as it nears this resistance. With the USD remaining supported by recent signals from the Fed, AUDUSD could face renewed pressure if it fails to break above the trendline.

The preferred scenario is to wait for the price to rally into the resistance zone and show signs of rejection, then sell in line with the downtrend, targeting the 0.6888 level.

Entry: Sell around 0.6940–0.6945
TP: 0.6888
SL: Above 0.6970