AUD/USD: Bearish Momentum Points to Further Downside – A Swing Short Setup

Market Overview and Technical Rationale

Looking at the AUD/USD, the bearish trend remains firmly in control. We've seen a consistent sell-off, with the pair currently trading around 0.64967 after a 24-hour decline of -0.36%. The daily range today, 0.64618 to 0.65316, clearly shows that despite minor bounces, the path of least resistance is lower. My analysis suggests we're seeing an opportunity to join this established trend on a retracement.
I'm eyeing a short entry at 0.65079. This level positions us well for a move lower, anticipating a retest of prior resistance and a rejection before the next leg down. The 0.6532 and 0.655 levels stand as significant resistance zones. The confluence is strong here, with lower highs consistently forming on the daily and 4-hour charts