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AUDUSD : Might Reverse the Downtrend to Uptrend

(AUDUSD : 4 Hour Chart)

AUDUSD currently following a downtrend on the 4 hour chart. There is a falling resistance trend line which is resisting the pair to move above it. However if it move above this resistance trend line it will again find resistance from another blue color resistance trend line. The pair might decline from the red falling resistance trend line towards the support at .9328. The 50 day SMA and 200 day SMA are contracting and squeezing towards each other signaling a change in current trend.  So we might expect the pair to break above the red resistance trend line. The weak US prelim Consumer Sentiment data might help the pair in surging.

(AUDUSD : Daily chart)

While looking at the daily chart, the pair seems like experiencing support from the 50 day SMA. So if the pair declines below the 50 day SMA and 100 day SMA some bearish outlook may develop.