FX.co ★ AUDUSD, H4 | Continue to 1st resistance?

Currently, the AUD/USD chart is displaying a bearish bias with price below a major descending trend line, indicating potential bearish momentum. If the downtrend continues, price could potentially react off the 1st resistance at 0.6726 and drop towards the 1st support at 0.6623, followed by the 2nd support at 0.6579. Conversely, if price breaks above the 1st resistance, it could rise towards the 2nd resistance at 0.6784, which is a multi-swing high resistance level. The intermediate resistance at 0.6666 is also worth noting as a potential trigger for a stronger bullish move towards the 2nd resistance.