AUDUSDAustralian Dollar vs. US DollarFX:AUDUSDHAMED_AZHello Traders! 👋 What are your thoughts on AUDUSD? In the AUDUSD daily chart, price has broken below a major ascending trendline and a key horizontal support zone. It is now retesting the broken structure in what appears to be a classic pullback. Several important technical factors are converging in this area: Previous support has now turned into resistance. The zone aligns with the 38.2% Fibonacci retracement. The broken ascending trendline is now acting as dynamic resistance. Together, these factors create a strong supply zone between 0.6990 and 0.7025. As long as price remains below this confluence resistance, the current rebound is likely to be a corrective pullback rather than the beginning of a new bullish trend. Price is expected to complete its pullback within this resistance zone before resuming the bearish move toward the projected downside targets shown on the chart. A decisive daily close above the resistance zone would invalidate this bearish scenario. If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️