AUDUSD H1: Bearish Pennant Rejection at Key Fibonacci ResistanceAUD/USDOANDA:AUDUSDHerdiantAUDUSD 1H: Bearish Pennant Rejection Points to Further DownsideMarket OverviewAUDUSD on the 1-hour chart is exhibiting a clear bearish continuation structure. Following a sharp decline, the price has entered a consolidation phase, forming a well-defined Bearish Pennant / Wedge pattern. Currently, the price is facing strong rejection at the upper boundary of the pattern, which strictly aligns with key technical resistance levels.Technical Analysis Breakdowns:Fibonacci Confluence: The recent upside bounce is heavily capped below the 0.786 Fibonacci Retracement level (0.71401) and the major structural resistance around 0.71530.Indicator Insights: Although the Stochastic RSI is hovering near the oversold territory (around 5.00), the overall market structure remains heavily dominated by bears. This is further validated by the recent Bearish Signal / Divergence printed on the chart.Price Action Outlook: As indicated by the red projection arrows, as long as the price stays contained below the pennant’s upper resistance and the 0.5 Fibonacci level, the path of least resistance remains strictly to the downside. 🎯 TRADING PLAN (SELL SETUP)Execution Zone (Short/Sell Area): 0.71550 - 0.71750 (Looking for exhaustion signs within this supply zone)Take Profit 1 (TP1): 0.70850 (Targeting the Fibonacci 1.0 extension / structural support)Take Profit 2 (TP2): 0.70350 (Targeting the Fibonacci 1.272 extension level)Stop Loss (SL): 0.71850 (Placed safely above the 0.5 Fibonacci level; a break above this invalidates the bearish bias) ⚠️ RISK MANAGEMENT DISCLAIMERThis analysis is strictly for educational and informational purposes only. It does not constitute financial advice, an endorsement, or a solicitation to buy or sell any financial instruments. Trading forex involves significant risk, and proper position sizing is highly recommended.