Sasha Singh
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AUDUSD : Giving Bearish Signals

(AUDUSD : 4 hour chart)

AUDUSD giving a bearish signal as the pair started consolidating between the support at .9252 and a falling resistance trend line forming a descending triangle. According to this the pair should break the support and continue to decline. If the pair continues to decline, the next support level the pair will find is at .9233. However the pair might also reverse the downtrend to uptrend by breaking the falling resistance trend line and rising up. Also considering the Moving Averages on the chart, the 50 day SMA have already crossed the 100 day SMA to move further down and now converging towards 200 day SMA. If it crosses 200 day SMA and continues to move down below it, there will be a continuation of Downtrend.