AUD/USD currency pair analysis

The general trend is descending. The ascending wave structure of the H4 level is truncated. The currency pair trades in the range of the upper border of the descending price channel. The Awesome Oscillator indicator has bearish divergence, and the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on the formation of a downward wave structure, where wave (A) breaks through 0.6949 (pivot 2 of wave C).

Stop-loss: 0.6983.

Target levels: 0.6880; 0.6712.