AUDUSD Rising Wedge Breakdown — Is a Bigger Drop Coming?Australian Dollar vs. US DollarFX:AUDUSDpejman_zwinAUDUSD(AUDUSD) is currently moving near the Potential Reversal Zone(PRZ) and resistance lines, having broken important support lines in recent weeks. From a classic technical analysis perspective, AUDUSD formed a rising wedge pattern during its pullback to these important support lines, and it has now broken the lower line of this wedge—this could be a sign of further bearish continuation. From an Elliott Wave perspective, AUDUSD seems to have completed its main wave 4 with a Double Three Correction (WXY). I expect that, given the bullish trend of the DXY index(DXY), AUDUSD will continue its downward move, potentially dropping at least to the $0.6903 level, and if the downtrend continues, we might see a test of the support zone($0.6884-$0.6865). First Target: $0.6903 Second Target: Support zone($0.6884-$0.6865) Stop Loss(SL): $0.6983(Worst) Note: Today we have an FOMC meeting, which could impact AUDUSD. Be cautious with your positions around that time. What’s your view on AUDUSD? 💡 Please respect each other's opinions and express agreement or disagreement politely. 📌Australian Dollar/U.S.Dollar Analyze (AUDUSD), 1-hour time frame. 🛑 Always set a Stop Loss(SL) for every position you open. ✅ This is just my idea; I’d love to see your thoughts too! 🔥 If you find it helpful, please BOOST this post and share it with your friends.