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What AUDUSD is Signaling?

(AUDUSD : Hourly Chart)

AUDUSD rebounded from the losses it suffered earlier and trading within a rising wedge. Technically a rising wedge pattern gives a bearish signal and the pair might again plunge from the support trend line of the wedge. The nearest support the pair may find after declining is at .9380. The moving averages are also narrowing signaling a change in the current trend.

(AUDUSD : 4 Hour Chart)

Now if looking at the 4 hour chart, the pair seems trading within a narrow range between the two contracting trend line forming a symmetrical triangle trend. Although the pair may break out or break down but the bias is towards the downtrend as 50 day SMA crossed below the 100 day SMA and now moving towards the 200 day SMA. The pair is signaling a bearish movement and will continue declining below the rising support trend line. The bearish trend will remain intact until we will see some flattening in the 50 day SMA and it will start rising towards the 100 day SMA.