FX.co ★ Konnect2fx | AUD/USD

AUD/USD 4H Analysis AUD/USD remains under bearish pressure on the 4-hour chart as price continues to trade below the descending trend line that has guided the market lower throughout June. The pair recently attempted a recovery but faced rejection from the highlighted sell-side order block and the Fibonacci retracement zone around the 0.7050–0.7100 area. I can see that sellers quickly regained control after the retracement, which confirms that bearish sentiment remains dominant. The repeated Break of Structure (BOS) signals on the chart indicate that lower highs and lower lows are still being formed, supporting the continuation of the downtrend. Price is currently trading near the 0.7010 area and holding above the bullish order block located near the recent lows. If buyers manage to defend this support zone, I think a short-term bounce toward 0.7040–0.7060 is possible. However, any recovery may remain limited unless the pair breaks above the descending trend line and establishes a stronger bullish structure. Volume Indicator The volume indicator shows periods of increased activity during major price swings, suggesting active participation from both buyers and sellers. I notice that some of the largest volume spikes appeared during bearish moves, which adds confidence to the current downward trend. At the same time, recent candles near support have been accompanied by moderate volume, indicating that the market is waiting for a stronger catalyst before making its next major move. The Fair Value Gap (FVG) shown on the chart has already attracted price attention, and the market appears to be searching for liquidity around this region. I believe the key level to watch is the bullish order block near 0.6980–0.7000. A successful defense of this area could encourage buyers to attempt another recovery. On the other hand, if price breaks below support with rising volume, the bearish trend could accelerate toward lower levels. Overall, I remain cautiously bearish on AUD/USD while it trades below the trend line and beneath the major supply zone, although support remains strong enough to create temporary upward corrections.