AUDUSD is currently below the descending trend line on the 4-hour chart, indicating its continued downtrend from 0.6894. The recent price action from 0.6622 is likely a period of consolidation within this downtrend.
As long as the resistance of the trend line remains unbroken, it is reasonable to expect the continuation of the downward movement. The next potential target on the downside would be the support level at 0.6594.
However, it is important to consider the possibility of an upside move as well. If the pair successfully breaks above the resistance of the trend line, it would indicate that the downward move has already completed at 0.6622. In this case, we might anticipate another rise towards the level of 0.6894.
In summary, the current analysis suggests that AUDUSD remains in a downtrend, with attention focused on the trend line for potential changes in price direction.
