AUDUSD | Premium Supply Rejection Into Macro ResistanceAustralian Dollar / U.S. DollarFOREXCOM:AUDUSDJ4mesWickAUDUSD AUDUSD is approaching a critical higher timeframe decision zone after a violent short-covering rally driven by weaker-than-expected US economic data. The Australian Dollar initially came under pressure earlier in the week following softer domestic inflation numbers, which reduced near-term hawkish expectations for the RBA. However, the US Dollar rally lost momentum after cooler Core PCE inflation data and weaker US GDP figures revived expectations of future Federal Reserve rate cuts. This triggered a sharp intraday squeeze higher on AUDUSD, pushing price directly back into a major H4 supply region. Despite the aggressive recovery, the broader higher timeframe structure still remains bearish. Technical overview: • Weekly structure continues to trade beneath major macro resistance around 0.7250 • Daily price action remains inside a broader corrective distribution phase • Current rally appears to be a retracement into premium pricing rather than a confirmed bullish reversal • H4 structure shows price returning into an unmitigated bearish order block between 0.7180–0.7200 • Current move also aligns with a previous breakdown pivot and institutional supply zone From a smart money perspective, this creates a potential premium rejection setup as liquidity gets pulled into higher prices before continuation lower. Trade Plan: Bias: Sell Entry: 0.7195 Stop Loss: 0.7245 TP1: 0.7100 TP2: 0.7020 As long as price remains capped beneath the weekly distribution ceiling, the broader downside structure remains valid. Watching closely for bearish confirmation inside the H4 supply zone before continuation toward lower liquidity targets.