AUDUSD | Bearish Bias — Rising Wedge Liquidity Sweep & 0.6990 SAUD/USDOANDA:AUDUSDLingrid Market Context & Higher Timeframe (HTF) Perspective: On the 1-hour timeframe, AUDUSD is displaying clear signs of exhaustion following an extended bullish impulse from the 0.6910 - 0.6920 demand region. The recent push above 0.7060 resulted in an aggressive rejection back inside the structural boundaries, confirming a buy-side liquidity sweep. With overhead supply suppressing further upward continuation, order flow dynamics favor a corrective rotation toward lower structural boundaries. Technical Breakdown & Confluence Factors: - Primary Pattern: A narrowing rising wedge pattern has formed across swing highs, signaling buyer exhaustion and structural compression. The sharp rejection above the upper boundary confirms supply absorption and seller dominance. - Secondary Confirmation: The lower ascending boundary of the wedge near 0.7020 serves as the primary structural threshold. A confirmed candle close below this level will mark a clear break of structure (BOS). - Price Action & Trigger Levels: The pair is currently hovering around 0.7041. The immediate trajectory favors a decline to the 0.7020 wedge boundary, followed by a relief retest and impulsive continuation toward the major ascending trendline support near 0.6990. Trade Setup & Execution Parameters: - Market Bias: Bearish - Anticipated Entry Zone: 0.7035 - 0.7045 (range entry) or 0.7020 - 0.7025 (on confirmed wedge breakdown and retest) - Primary Targets: TP1 at 0.7020 (lower wedge boundary and interim liquidity). TP2 at 0.6990 (macro dynamic trendline support). - Invalidation Point (SL): 0.7075 (a sustained candle close above the recent sweep high invalidates the bearish premise). - Estimated Risk-to-Reward Ratio (R:R): 1:2.8 Risk Management & Educational Takeaway: Wait for hourly candle closure confirmation below structural support before sizing into full exposure. Secure partial profits at TP1 and adjust stop losses to breakeven to eliminate downside risk. Do you anticipate a direct breakdown toward 0.6990, or will buyers attempt another push toward 0.7060 first? Share your view in the comments below! Disclaimer: This analysis is strictly educational and informational; it should not be construed as investment or financial advice.