AUD/USD Bearish Confirmation: Targeting 0.6393 on a Swing Short

Current Market Context & Technical Read

Good morning, KoraFX community. Let's dive into AUD/USD, a pair I've been closely monitoring. The prevailing trend remains distinctly bearish, a sentiment reinforced by the recent price action. Currently, AUD/USD trades at 0.64961, having experienced a -0.37% decline over the past 24 hours. The daily range saw price attempt to push higher, hitting 0.65319, but it ultimately found resistance and pulled back. This rejection close to the 0.6532 resistance level is a key technical signal, indicating strong selling pressure at higher prices. We've seen a clear market structure shift over the past week, with lower highs and lower lows forming consistently.

My Swing Short Setup &