AUD/USD Outlook Trendline Rejection Could Trigger a SelloffAUD/USDOANDA:AUDUSDEA_BOT_Trader_00The pair has formed multiple lower highs (marked by the orange circles), indicating sellers are defending the descending trendline. Price is trading below a long-term descending resistance, while also struggling to hold above the shorter-term ascending trendline. The recent rally appears to have stalled near resistance, suggesting bullish momentum is fading. Resistance Zone The key resistance lies around: 0.7005 – 0.7012 This area has rejected price several times and aligns with the descending trendline, making it a significant level to watch. Another rejection here would strengthen the bearish outlook. Support Zone The gray demand zone around: 0.6960 – 0.6967 is the primary downside target. This level has acted as support previously and is likely to attract buyers again. Bearish Scenario The chart suggests the following sequence: A minor bounce or consolidation near current prices. Failure to break above the descending resistance. Selling pressure resumes. Price declines toward the 0.6960–0.6967 support zone. A break below this support could open the door for further downside. Bullish Scenario The bearish setup would lose strength if buyers: Break and close above 0.7012, and Hold above the descending trendline. That would indicate buyers are regaining control and could target higher resistance levels. Key Levels LevelSignificance 0.7005 – 0.7012Major resistance 0.6990Current trading area 0.6960 – 0.6967Primary support / downside target Overall Outlook Short-term bias: Moderately bearish. Reason: Repeated rejection from descending resistance, lower highs, and weakening bullish momentum. Confirmation: A rejection near resistance followed by a break below 0.6985 would increase the probability of a move toward the 0.6960 support zone.